Budget Date set for 27th October

It was announced last week that Rishi Sunak will deliver his half-yearly budget statement on the 27th October 2021. At the same time he will outline his three year spending plan. Given the amounts that have been spent by Government to support the economy through the pandemic, it’s likely to be a tricky exercise. Sunak […]

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NEW Health & Social Care Levy

In our last round-up, we reported on the Times article suggesting National Insurance contributions were likely to rise. That speculation has now been confirmed – almost! We now have a new Health & Social Care Levy. Rather than being an increase in National Insurance contributions, the increase will be deemed a separate levy, the income […]

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HMRC late payment penalties are changing!

HMRC has published a policy paper outlining the forthcoming changes to the penalties for late payment and interest harmonisation for taxpayers. The government intends to reform sanctions for late submission and late payments to make them ‘fairer and more consistent across taxes’. Initially the changes will apply to VAT and Personal Tax. The changes will […]

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Digital Marketplaces to report sellers’ incomes from 2023

HMRC has published a consultation that outlines plans to implement reporting rules for digital platforms first put forward by the Organisation for Economic Co-operation and Development (OECD). This consultation was first announced in the Budget 2021. In February 2020, the OECD consulted on proposed rules setting out how digital platforms should collect information about the […]

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Contactless Limit to increase to £100

The national roll-out of the new £100 spending limit for contactless card payments will begin from 15th October 2021, banking trade body UK Finance has confirmed. UK Finance represents the Banking and Finance Industries and manages the process for setting the industry contactless limit. The decision to raise the contactless limit from £45 to £100 […]

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Climate Change – How sustainable is your business?

Climate change is a scary reality. In just the last few weeks we’ve all heard reports of terrible flooding in Belgium and Germany, extreme heat in the US, and wildfires in Greece. Regardless of where we live, we all need to do what we can to minimise our impact on the planet. As business owners, […]

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