Tax code BR is one of the most popular tax codes but very few people seem to know what it is? We explain how tax code BR affects your take home pay? Why you might have a tax code BR? And how to change tax code BR if it is incorrect? Recommended Further Reading: Tax …
The marriage allowance for 2021/22 is £251. This is tax free cash which an estimated over 2 million couples don’t claim. Better still, you can claim back for the previous 4 tax years. As a result the total tax rebate can be as high as £1,219. This total is explained later. WARNING: Don’t use a …
Marriage Allowance – Claim your £251 Tax Free Cash Read More »
Corporation tax rate rises, super deduction for qualifying assets, restart grants, new self-employment grants and extension of Furlough. The 3rd March 2021 budget for businesses was packed with many tax changes. Some good and some bad for businesses. We go through the key announcements from the budget below. It includes how the budget will affect …
Budget 2021 – Business Taxes, New Grants and Support Read More »
The Budget 2021 and the big freeze on personal tax allowances! The UK Budget was announced on Wednesday 3rd March 2021. Many had expected tax rises to pay back the deficit caused by the pandemic. Although many tax rises were avoided, the big freeze on tax free allowances over the next 5 years will effect …
Budget 2021 – The Big Freeze on Personal Tax Allowances Read More »
Corporation tax is due to rise from 19% to 25% in April 2023. Try our calculator to see how much extra corporation tax you will pay?
The Government have announced several extensions to the furlough scheme. The latest announcement was in the budget on 3rd March 2021, which extended furlough right through to the end of September 2021. The furlough scheme is also known as the job retention scheme. Furlough Scheme Extension Changes Below is a timeline showing how the Government …
Furlough Scheme Extension – See the monthly changes Read More »
What is the VAT Reverse Charge for Construction Industry? This simple tool will inform you when to apply the VAT reverse charge. It applies to all businesses within the construction industry. We have also included detailed analysis and examples of the questions you will need to answer. The solver will inform your construction business whether …
The VAT reverse charge for construction industry was implemented on 1st March 2021. It is an important change for construction businesses. Here are some FAQs on the changes and how it will affect your construction business. Our opinion on the VAT changes for Construction Industry We have no doubt that ‘missing trader fraud’ is an …
VAT Reverse Charge for Construction Industry FAQs Read More »
The lockdown roadmap was announced on 22nd February 2021. The Government provided details on how the restrictions will start to be lifted from 8th March through to the summer. The roadmap is staged over 4 steps, with the final lockdown ending on 21st June 2021 (at the earliest). Below is a timeline which details the …
Bitcoin and other cryptocurrencies have increased significantly in value over the last few years. At the time of writing on Thursday 11th February 2021, a Bitcoin is priced at $45,531. As a result of this significant growth, many investors are looking to cash in on some of their accumulated profits. The tax on bitcoin in …