Following the Chancellor’s Spring Statement last week, the two big tax changes funding Covid recovery were already known, with the introduction of the Health and Social Care Levy and the Corporation Tax changes coming in from April 2023. What are the tax changes? Health and Social Care Levy – a 1.25% rise in Employers’ and
Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Personal tax planning ahead of April 2022 The costs of keeping the country running through COVID were huge and inflation is
Inflation, tax rises – and the family budget Apart from the human cost, covid has cost us all a great deal. In the first year of the pandemic, from April 2020 to 2021, the government borrowed £299bn, the highest figure since records began in 1946. Another £200bn will be needed this year, and as taxpayers,
New Milton Keynes office branch We are pleased to announce the opening of our new Treetops branch in Milton Keynes. One of the largest towns in the Southeast of England, Milton Keynes is a great place to call home and a fantastic area to do business. In fact, this bustling town is a mecca for
To recap the October 2021 Budget Announcement The two big tax changes funding Covid recovery were already known, the Health and Social Care Levy and the Corporation Tax changes coming in from April 2023. Health and Social Care Levy A 1.25% rise in Employer’s and Employee’s National Insurance (NI), Class 4 Self Employed NI and
Choosing to register your business as either a sole trader or limited company has various advantages and disadvantages associated with both. For example, you may decide that being a limited company has more of a safety net attached to it, but there are more responsibilities when compared to just being a sole trader. It can
What is Annual Tax on Enveloped Dwellings (ATED)? ATED is an annual return that must be completed by companies that own a UK residential property with a value in excess of the ATED threshold. From 1 April 2016, UK residential properties which were worth more than £0.5million as at 1 April 2012 have been in
Important Tax Changes from April 2021 The main economic thrust of the budget on 3 March 2021 was Covid measures and how economic policy could support the UK recovery and there were not a lot of changes announced which will impact on you directly. However, there are many measures that were announced in previous budgets
HMRC’s new domestic reverse charge for construction services comes into force on 1 March 2021. There are lots of rules surrounding this, and we have tried to summarise this as simply as possible, but you must be familiar with the full rules if this affects you. Any errors will have significant impact on the VAT you
I’m a sub-contractor. What does the VAT reverse charge for construction services mean for my business? Invoicing Firstly, you will need to consider who you are supplying, so whether the domestic reverse charge applies e.g. whether they are VAT registered, CIS registered, end user (see flowchart). If you are supplying an end user that is
Treetops help small to medium businesses, limited companies and individuals with their accounting. We are an established firm with a large team of qualified and experienced accountants. For bookkeeping and monthly accounting prices get in touch with us today.
