It’s not the first time in his tenure as Chancellor that Rishi Sunak has delivered a Budget or spending review amidst large scale financial uncertainty. And March’s Spring Statement was no exception. With food, fuel and energy prices spiralling, inflation and the cost of living on the rise, and debt remaining at record levels after […]…

‘Dividend tax’ – the tax on payments made by a company to its shareholders – is to increase by 1 & ¼ percentage points from April next year, as part of a new ‘Health and Social Care Levy’. Following last week’s announcement that both Employers’ and Employees’ National Insurance contributions (NICs) would rise by 1.25%, […]…

HMRC have pledged support for individuals and organisations affected by the changes to off-payroll working (IR35) in the private sector, to ensure compliance with the new rules. In a policy paper released last month, HMRC explained that they will be taking a ‘light touch approach’ to penalties and, for the first year, no fines will […]…

This lunchtime, the Chancellor, Rishi Sunak, unveiled his ‘Winter Economy Plan’ to the House of Commons. The headline announcement is a new Job Support Scheme, which sees the government and employers subsidise a percentage of wages for employees who are on reduced hours. Other announcements include an extension of the 5% VAT rate, a ‘Pay […]…

The Chancellor, Rishi Sunak, has unveiled an unprecedented package of support from the Government to help self-employed workers who may be struggling financially as a result of Coronavirus. After recognising the anxiety of the nation’s self-employed workforce, the Chancellor told them they’d ‘not been forgotten’ before unveiling an income support scheme (SEISS) which is unparalleled […]…

The proposed changes to the Private Sector’s Off-Payroll working rules, also known as IR35, have been postponed for 12 months, the Government has announced. Combatting Covid-19 The 11th hour postponement has been actioned in response to the Covid-19 (Coronavirus) outbreak. The news was revealed following a press conference on Tuesday evening in which the Chancellor, […]…

The Chancellor, Rishi Sunak, has unveiled his inaugural Budget in a speech to the House of Commons. So, we’ve taken a look at how the Budget will affect you and your business. The ‘Coronavirus Budget’? As expected, it was a Budget dominated by Covid-19, and the Government’s plans to combat the virus. Last week, Mr […]…

Amidst the hullabaloo of policy and legislation that dominates UK politics at the moment, it’s easy to forget about the annual increases to the National Living and National Minimum Wages. But it’s important that you take note, with nearly 3 million people set to experience an increase in gross pay. The changes come into force […]…