News

Many of our clients are in this position; they run a limited company, act as a director and pay themselves a small salary topped up by dividends. This presents a problem…. As far as we can see, these businesses and individuals do not come under the...

The basic details of this scheme were released at the end of last week. In broad terms, those who are self-employed (and have suffered a loss in income) will have their income (as reported on their tax returns); totalled for the three tax years...

Support for the self employed? There is currently nothing specific to support the self employed (apart from changes to Universal credit and other tax credits) as nearly all the measures announced relate to employers and employees. The self employed...

Following further announcements on Monday this week from the Government, we have sifted through these and provide you with a summary of the latest developments for business and support available. We expect this will evolve further in the coming...

Whilst we have had lots of advice about how to protect ourselves from the virus we thought it would be worth providing some advice about how to tackle business continuity issues arising from coronavirus. Please do contact any of us if you need...

As previously announced the corporation tax rate is to remain at 19% for the time being. It was scheduled to reduce to 17% from 1 April 2020.

Many State Benefits have been frozen, or increases limited, for a number of years. The Government have however decided to increase many State Benefits from 2020/21 including Child Benefit. The amount payable in respect of the oldest child has been...

Employees and the self-employed will not pay national insurance contributions (NIC) on the first £9,500 of earnings from 2020/21, a significant increase from the £8,632 limit in 2019/20. Note that employers will be required to pay 13.8% on earnings...

Personal Allowance The personal allowance for 2020/21 is frozen at £12,500, the same as in 2019/20. The higher rate tax threshold is also frozen at £50,000. Income Tax Rates The basic rate of income tax and higher rate remain at 20% and 40%...

There has again been much lobbying from the small business sector to reduce business rates to enable traditional retailers in particular to compete with internet traders. The Chancellor announced a long term review of the future of business rates,...