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How to use this guide 2022/23 has been the third of extraordinary tax years in the modern era. While 2020 and 2021 saw the heights of the pandemic, 2022 saw a surge in inflation mainly due to the continued supply chain issues after Covid, Russia’s war on Ukraine and...
Reducing your tax bill when selling property. A combination of financial challenges, eviction bans and a perceived lack of support meant the rental market was hit hard by the COVID-19 pandemic. Now, landlords and tenants are feeling the effects of rising costs....
Jeremy Hunt announced his second fiscal statement and first Budget since becoming Chancellor against a backdrop of fragile public finances, an ongoing cost of living crisis, and increased Government borrowing. In January, the Chancellor appealed to the nine million...
The Government has u-turned on IR35 reforms. Late September into mid-October has been a turbulent time for the Government and a confusing time (at best) for taxpayers, after former chancellor Kwasi Kwarteng’s fiscal statement. On 17 October, the new chancellor, Jeremy...
Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure.Highlights Average five-year mortgage rate hits 12-year-high Inflation rises...
MTD non-compliance penalties also published. After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages on GOV.UK in late...
How to make savings during the cost-of-living crisis. Nobody wants one, but a recession in the UK is looming, with the Bank of England (BoE) and British Chambers of Commerce (BCC) predicting the UK will enter one by the end of 2022. The monetary policy committee of...
Each month we bring you the latest tax and business updates with our Insider Newsletter. Take a look at this month's insights below, or download our Newsletter and read it at your leisure.Highlights Chancellor announces biggest tax cuts in 50 years Bank of England...
Make use of these allowances while they last. When a business incurs costs, such as salary payments or stationary procurement, it can usually fully deduct them as expenses from its taxable profits, reducing the tax due. However, when it buys assets for operational...
An overview of the Government’s seven steps. Hiring an employee for the first time is an exciting moment for any business owner. Suddenly, you’ve got another pair of hands to help out with jobs that used to fall entirely on you – and with that extra support, new...