Spring Budget 2022
Against a backdrop of rising inflation, in March 2022 Chancellor Rishi Sunak presented his first Spring Statement. Following this, we have put together a PDF which provides an overview of the updated forecasts for the UK economy and public finances, which we trust you will find useful.
Autumn Budget 2021
Autumn Budget 2021: Chancellor Rishi Sunak delivered a budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic. Following this, we have put together a PDF which provides an overview of the updated forecasts for the UK economy and public finances, which we trust you will find useful.
Making Tax Digital
Further update on Making Tax Digital which came into effect on the 1st April 2021. Please be aware HMRC can now impose PENALTIES for non compliance.
The rules relating to off-payroll workers, commonly known as IR35, are due to change from 6 April 2021. The changes revolve around tax and employment status, and who makes the decision on that status. The change applies to those off-payroll workers who provide personal services to clients in the private sector through an ‘intermediary’.
Reverse Vat Charge
1st March 2021
The VAT domestic reverse charge for building and construction services is now scheduled to come into effect from 1 March 2021. The original introduction date was changed from 1 October 2019 to 1 October 2020 and revised again in June 2020 due to the impact of the coronavirus (COVID-19).
The United Kingdom officially left the European Union (EU) on 31 January 2020 and the 11-month transitional period ended on 1 January 2021. There are important changes businesses must now make in order to continue trading with the EU.