Changes in your National Insurance Payments: From 6th July 2022 you will now be able to earn up to £242 a week, £1,048 a month or £12,576.00 a year before paying any class 1 national insurance this has gone up from £190 a week, £823 a month and £9876...
See below information regarding the help you can you get: The government said the cash would be tax-free and not count towards someone's benefit cap. "We have a responsibility to protect those who are paying the highest price for rising inflation, and we are stepping up to help," said Chancellor Rishi...
Who should register and when You must register for Plastic Packaging Tax if you’ve manufactured or imported 10 tonnes or more of finished plastic packaging components since 1 April 2022, or if you expect to do so in the next 30 days. The 10 tonnes of plastic packaging components can be...
If you work from home some of the time you may be able to claim a percentage of your costs for expenses below: heating electricity council tax mortgage interest or rent of the office internet and telephone use You’ll need to find a reasonable method of dividing your costs, for example by the number of...
What's the latest in additional coronavirus support? Well, in December 2021 the government issued a release describing a further £1bn in business support to mitigate the economic damage from the restrictions imposed. Read more to see if you can make use of one of these grants.
Will you be ready for the new HMRC rules requiring "Making Tax Digital (or MTD) for Income Tax" that will come into force from 6 April 2024. Check out our article and read all about it!
This article describes how businesses that are in the Construction industry can qualify for "Gross" status, meaning that they keep the withholding tax longer.
Tax is payable on any profit you make from renting out property. However, you are able to deduct allowable rental property expenses from the income to decrease the amount of taxable income. Paying tax on profits after allowable rental property expenses Tax is payable on any profit you make from renting out...
Every year the National Insurance thresholds and rates are reviewed with an eye to either having a national insurance increase or leaving them as they are. For 6 April 2022 to 5 April 2023 the contributions will increase by 1.25%. The government state that this will be spent on social...
Each year the minimum wage is reviewed which often, as it does this year, leads to a minimum wage increase. The minimum wage increase (NMW) and national living wage (NLW) increase are due to rise significantly in April 2022, see below for the increases: The NLW and NMW rates from 1...
