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THE BUDGET 2024
Reductions in national insurance, raising the threshold for the Child Benefit Charge. All the key tax changes announced in the budget summarised here……
SPRING STATEMENT
With energy prices increasing and inflation returning to levels last seen in the 1990’s, the Chancellor’s speech contained more on tax than anyone could have expected.
1.25% increase in National Insurance and tax on Dividends
The government announces tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance contributions (NICs) will increase by 1.25% for one year only for employees, employers and the self-employed from April 2022....
Budget News – Wednesday 3rd March 2021
The key announcements in the Budget on Wednesday 3 March 2021........ Budget Key Points.
Covid-19: Support for businesses
Following the latest government briefing, the link below provides a summary of the help available for businesses including the job retention scheme, grants, loans, VAT and income tax deferral. Covid-19: Support for business
Capital Gains Tax on Sale of Residential Property
Major changes to the tax regime for gains made on sale of residential property will take effect from April 2020. If a liability arises, you will be required to submit a provisional calculation to HMRC within 30 days of completion. You will also need to pay an estimate...
Making Tax Digital for VAT – When to Register
When enrolling yourself into Making Tax Digital for VAT you should consider the timing very carefully Once signed up, HMRC will expect all future VAT returns (and any current or previous returns outstanding) to be filed through Making Tax Digital software. There are...
Making Tax Digital – Facts and Fiction
All VAT registered businesses with annual taxable turnover exceeding £85,000 must comply with the making tax digital (MTD) rules for VAT periods beginning on or after 1 April 2019. For example if your first quarter, after 1 April 2019, is for the period 1 May 2019 to...
Autumn Budget – October 2018
Our budget summary covers the key tax changes announced in the Chancellor's speech and includes tables of the main rates and allowances. We will, of course, be happy to discuss with you any of the points covered and help you reassess your plans in the light of any...
Newsletter Spring 2018
This month we look at the tax implications of employing your children in the business, we review the national minimum wage rises from 1 April 2018. Are you aware of the rent a room relief rules if you let a room in your own home? Other articles include PAYE codes and...
Newsletter Winter 2017
Welcome to our quarterly newsletter. In our 1st edition, we look at national insurance for the self employed, a new property allowance, the introduction of Simple Assessments and the government's plans for Making Tax Digital which will start in April 2019. Newsletter...
Budget November 2017
We have summarised on one page all the key points announced in the November Budget. If you require further information on any of the changes please contact paul@padtax.co.uk Budget 22 November 2017 - key points