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Practice News

Plastic Packaging Tax Starts 1 April 2022

Posted 24/09/2021 If you are a business that manufactures or imports 10 or more tonnes of plastic packaging over a 12-month period you will need to register for the tax. This is regardless of whether you will have to pay any tax. This includes importers of packaging which already contains goods, such as plastic bottles…Read More

Coronavirus Job Retention Scheme (CJRS) closes on 30th September

Posted 21/09/2021 The CJRS is due to close on 30th September 2021. For September, employers can claim 60% of furloughed employees’ usual wages for the hours not worked, up to a cap of £1,875 per month per employee. They’ll need to contribute 20% from their own funds so that furloughed employees continue to be paid…Read More

Introduction of Health & Social Care Levy

Posted – 20/09/2021 From April 2022 there will be a temporary 1.25% rise in National Insurance Contributions (NICs) paid by both employers and workers. From April 2023, this will then be replaced by a new 1.25% Health & Social Care Levy which will be shown as a separate line on an employee’s payslip. Individuals above…Read More

Residential Property Capital Gains Tax

Here is a quick reminder on reporting the sale of residential property… Whoever said that tax was simple! You now need to report the sale of residential property and any capital gain arising to HM Revenue & Customs within 30 days of the sale, you will also need to make payment of any tax due…Read More

Changes to the Coronavirus Job Retention Scheme (CJRS) from July

Posted 15/06/2021 The UK Government will continue to pay 80% of your furloughed employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, to the end of June. In July, CJRS grants will cover 70% of employees’ usual wages for the hours not worked, up to a cap of…Read More

IR35 Changes from 6th April 2021 – Do You Need to Take Action?

Posted 22/03/2021 What is IR35? The IR35 rules were introduced so that workers, who provide their services through their own Limited Company (Personal Service Company or PSC) , pay broadly the same Income Tax & National Insurance Contributions as employee’s. If you are a PSC worker providing your services in the same was as an…Read More

SME Brexit Support Fund is Open For Applications

Posted 16/03/2021 The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice, if your business has up to 500 employees and no more than £100 million annual turnover.  Traders can apply for up to £2,000 in total through two types of grants:  Grant for Training: The grants can…Read More

Pre Year End Tax Planning

Posted 12/03/2021 NMW & Employment Allowance National minimum wage rates from 1st April 2021 Age of Worker Rate per Hour Age 23+ £8.91 21 and 22 £8.36 18-20 £6.56 Under 18 £4.62 Apprentice £4.30 Beware of traps for employees getting older, they need to be moved up the scale Don’t forget the employment allowance up…Read More

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