Business groups gave a mixed response to Chancellor Rishi Sunak’s 2021 Autumn Budget speech. Responding to the speech, the Confederation of British Industry (CBI) said that the Chancellor had shown a willingness to listen to business with measures that will help firms innovate and the economy grow. However, Tony Danker, Director General of the CBI,… Read more…

On 27 October, Chancellor Rishi Sunak delivered a Budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic. The Chancellor announced that total departmental spending will grow by £150 billion per year in cash terms by 2024/25, marking the largest real term increase in overall departmental spending for any Parliament this century.… Read more…

The Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Our summary focuses on the tax measures which may affect you, your family and your business. To help you decipher what was… Read more…

Growth is fundamental for the success of any business but particularly those who are smaller or just starting out. Considering the year that we have had with Covid-19 and its effect on business, growth is more important than ever before. With this in mind, how should you approach growing your business in order to guarantee… Read more…

The government has delayed the introduction of Making Tax Digital (MTD) for Income Tax Self Assessment (MTD for ITSA) for a year, HMRC recently announced. The government says it has made the move in recognition of the challenges faced by many UK businesses as the country emerges from the pandemic. It will now introduce MTD… Read more…

From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases. There will be a 1.25% increase in NICs on earned income, with dividend tax rates also increasing by 1.25%. The money raised will be ringfenced for health and social care costs.… Read more…

HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October. On 7 September the Chancellor launched Spending Review 2021, which will conclude on 27 October and will be presented alongside the Autumn Budget. The Spending Review will outline government departments’ resource and capital budgets from 2022/23 to… Read more…

The government’s Coronavirus Job Retention Scheme (CJRS) ended on 30 September after supporting millions of workers during the pandemic. The government said the wages of more than 11 million people were subsidised for at least some of the scheme’s duration at a cost of around £70 billion. Economists say there is likely to be a… Read more…

The government’s scheme that enables small businesses to recoup statutory sick pay costs caused by COVID-19 closed at the end of September. Legislation ending the Coronavirus Statutory Sick Pay Rebate Scheme (SSPRS) was laid before parliament on 9 September. Before the COVID-19 pandemic, employers were obliged to pay Statutory Sick Pay (SSP) to eligible employees… Read more…