A consultation on how basis periods can be reformed for income tax for the self-employed has been launched recently, by HMRC. The objective of the consultation is to gather views and opinions on how best to implement a proposal to simplify the rules under which profits of an unincorporated trading business are allocated to tax …
Basis Period Reform Proposal Consultation Launched Read More »
Figures from HMRC show that tax relief on household-related costs has already been claimed by almost 800,000 employees who have been working from home during the Coronavirus pandemic. Eligible workers can claim the full year’s entitlement, which is worth up to £125 per year for each employee if they have been told to work from …
Working From Home Tax Relief Claimed By 800,000 Employees Read More »
2020 saw the number of cash payments made in the UK fall by 35%, according to the latest figures from the banking trade body UK Finance. Despite the large drop in the number of cash payments made, cash remains the second most frequently used payment method in the UK, behind debit cards, accounting for 17% …
According to the latest figures from the Confederation of British Industry (CBI), the UK economy is set to bounce back to its pre-COVID level towards the end of 2021, despite the lifting of all lockdown restrictions being delayed by a month. The easing of some COVID-19 restrictions, rapid roll-out of vaccines, and the unleashing of …
The Finance Act 2021 was granted Royal Assent on 10 June, bringing the extended loss carry-back, super-deduction, and other measures into force. It was not expected for the Act to become law until July, but now Royal Assent has been granted it will prompt the issue of commencement orders for provisions, including the 130% capital …
Earlier Than Expected Royal Assent For Finance Act 2021 Read More »
Business groups are calling for further government support for businesses following the announcement on Monday that the easing of lockdown restrictions in England is to be delayed by four weeks. The Confederation of British Industry (CBI) said ‘although the delay was regrettable it is understandable’ as a postponement is preferable to lifting lockdown and then …
Business Groups Call On Government For Further Support After Delay In Lockdown Easing Read More »
