£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.

The…

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Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended. Taxpayers who were not eligible for the first and second grant will not be eligible for…

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Online service opens for VAT deferral scheme

HMRC has announced that businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

To take advantage…

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National Minimum and Living wages increases

UK workers are set to benefit from rises in the National Minimum Wage (NMW) and the National Living Wage (NLW) rates that took effect from 1 April 2021.

The NMW which applies to 21 and 22…

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New 95% mortgage scheme launched

On 19 April, a government-backed mortgage scheme to help people with 5% deposits get on to the housing ladder was made available to lenders.

First announced at the 2021 Budget, the scheme…

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NIC reliefs set for Freeports

Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees, the government has announced.

The National Insurance Contributions…

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The government has published draft Finance Bill clauses

The Government has published draft clauses for the next Finance Bill, which broadly cover pre-announced policy changes.

The government is committed, where possible, to publishing most tax…

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Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2021.

The guidance states: 'you can use the previous rates for up to one month from the date the…

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Chancellor warned of redundancies as furlough scheme ends

The government's Coronavirus Job Retention Scheme (CJRS) ended on 30 September after supporting millions of workers during the pandemic.

The government said the wages of more than 11 million…

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