On the 3rd of March 2021, The Chancellor delivered the budget. A summary of the main points are as follows: COVID-19 Support Extension of the Coronavirus Job Support Scheme to September 2021Self Employment Income Support scheme extended to September 2021, with 600,000...
Government
Budget 16 March 2016 – Key Points
Personal Tax The threshold at which people pay 40% tax will rise from £42,385 to £45,000 in April 2017. Tax-free personal allowance rising to £11,500 in April 2017. 0.5% rise in insurance premium tax. Capital Gains Tax Capital Gains Tax to be cut from 28% to 20%, and...
Budget 8th July 2015 – Key Points
Below are the key points from George Osborne’s 2015 summer budget in relation to businesses and personal tax changes. Businesses Corporation Tax will be cut from its current rate of 20% to 19% in 2017 and 18% in 2020. National Insurance employment allowance for small...
NIC Employment Allowance from April 2014
Key Features Employers are required to make secondary Class 1 national insurance contributions (NICs) for their employees. From April 2014 every UK business will be allowed an annual employment allowance of £2,000 to offset against their employer NIC liability. This...
Expanding to the UK: Taxes Your Business Will Face
Many companies are migrating to Britain and especially London to take advantage of the resources available to businesses. London has long been established as leading centre for banking and finance and with the emergence of tech city it is fast becoming...
Changes to Workplace Pension Schemes
Background Previously UK employers were not required to contribute to their employees’ pension schemes, however this is set to change with new laws which started to come into force from October 2012. As an employer, even if you employ just one person, you will...