News

Spring Statement March 2022

4 months ago

The Chancellor presented two Budgets in 2021 in which he set out a great many details of the tax rates and rules that will apply until April 2026. The 2022 Spring Statement was expected to review the economic situation and adjust forecasts, but was not supposed to include anything significant about tax. Of course, things have changed dramatically since October: there is a war in Ukraine, energy prices are rising sharply and inflation has returned to levels last seen in the early 1990s. [...]

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Autumn Budget October 2021

9 months ago

A Budget for the new age was how it was billed. Governments' focus being on economic growth post COVID19. The Chancellor had already announced the corporation tax increase and the health and social care levy. The key budget points are highlighted below and in more detail in our budget booklet on our website. [...]

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Budget 3 March 2021

1 year ago

The Chancellor had a difficult task in this Budget: to indicate how he might balance the Government’s books in the future, while still having to pay out huge sums to support the economy. He said that he would continue to provide ‘whatever it takes’ to protect businesses and jobs during the present crisis, while being honest about the need to ‘fix the public finances’ and setting out his plans to build the future economy. [...]

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Extension to the Furlough Scheme

1 year ago

Coronavirus Job Retention Scheme (CJRS) also known as the Furlough scheme will remain open until December, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500. Under the extended scheme, the cost for employers of retaining workers will be reduced compared to the current scheme, which ended on 31 October 2020. This means the extended furlough scheme is more generous for employers than it was in October. [...]

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Self Employed Income Support Scheme Grant Extension

1 year ago

Chancellor Rishi Sunak has now doubled the amount of support eligible claimants can expect to receive from the next grant under the Self-Employment Income Support Scheme (SEISS). The Government have already paid two SEISS grants, but the Chancellor recently announced the scheme will be extended to provide two further grants for people who are eligible to claim. The grants will cover the six-month period between November 2020 and April 2021. [...]

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Job Support Scheme

1 year ago

Job Support Scheme Open is a government grant which covers 61.67% of wages for hours not worked (up to a maximum of £1,541.75 per month), depending on how many hours the employee works. The employer must contribute 5% to the employee’s pay in respect of the unworked hours so in total the employee will receive 66.67% of their usual pay in respect of the unworked hours. Employers are also responsible for paying the Employer NIC and pension costs. [...]

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