On 22 September 2022, the government announced a reversal of the 6 April 2022 1.25% increase in National Insurance rates, with effect from 6 November 2022, or as soon as payroll systems can be changed, if later.
Nichola's SME Tax W-update 3 November 2022
Hello,
With news that HMRC is launching a campaign targeting non-compliance by offshore companies who own UK property, we are focusing on the tax compliance issues for offshore property owners, directors and landlords this week.
Nichola's SME Tax W-update 27 October 2022
Hello,
The new Chancellor of the Exchequer, Jeremy Hunt, has decided to put back the third 'fiscal event' of this autumn to 17th November, transforming it into the annual occasion that we had all been expecting, an Autumn Statement accompanied by a report from the Office of Budget Responsibility (OBR).
Statistics reveal a reduction in private landlords
HMRC has issued the official property income statistics for 2020-21 which indicate a decline in the number of private landlords and highlight the high costs of financing buy to let properties.
Autumn Statement scheduled for 17 November 2022
The Chancellor Jeremy Hunt has announced that the Medium term fiscal plan scheduled for 31 October 2022 has been delayed until 17 November 2022 and upgraded to a full Autumn Statement.
Children’s face masks VAT-free
Children's facemasks are zero-rated for VAT: they are 'clothing', according to HMRC's Revenue & Customs Brief 11 (2022): ‘VAT and children’s face masks’. This sets out HMRC’s revised position in relation to children’s face masks and their VAT treatment.
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