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Budget 2021: Live Speech highlights

: Last Updated: 30 August 2023

Chancellor Rishi Sunak made his Budget 2021 speech on 3 March 2021, the highlights of the speech as as follows:

Highlights

Corporation tax will increase to 25% from 2023, very small companies are unaffected.
The Stamp Duty Land Tax (SDLT) nil rate break extends until September.
Large grants for hospitality industry which also benefits from extended VAT rate reduction.
Tax allowances are frozen until 2026.
VAT theshold frozen until 2024
Business Rates: three months 100% holiday, nine months 66% relief with cap
Various coronavirus support measures including new grants.

Nichola's SME Update 25 February 2021

: Last Updated: 11 October 2024

Hello

This week we bring some good news if you were unable to settle your 31 January Self Assessment liability by 28 February. There'll be no 5% late-payment penalty as long as you pay by 1 April 2021. We have another warning on more phishing emails, new VtaxP toolkits, updates for landlords (including non-resident landlord companies), and a review of what's been happening in the courts.

BBC presenter not an IR35 employee

: Last Updated: 30 August 2023

In HMRC v Atholl House Productions Limited [2021] UKUT 0037, the Upper Tribunal (UT) upheld the First Tier Tribunal's (FTT) decision that the TV and radio presenter, Kaye Adams, was an independent contractor and not caught by IR35.

Nichola's SME Tax W-update 18 February 2021

: Last Updated: 11 October 2024

Hello

We have a great range of news and updates this week. Ignoring the Coronavirus for a minute, it is a time of big changes in tax.

Agent Update February 2021

: Last Updated: 30 August 2023

HMRC have issued the Agent Update for February 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.

Some of the following items have been duplicated in this month's Employer Bulletin and rather than reproduce these we have linked to those updates where appropriate, see: Employer Bulletin February 2021

HMRC briefing: supporting organisations on Off-Payroll Working

: Last Updated: 30 August 2023

HMRC's policy briefing 'Supporting organisations to comply with changes to the Off-Payroll Working rules (IR35)' notes a one-year soft landing on penalties and contains some useful examples to illustrate how it expects to deal with PAYE compliance reviews.

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