News

Many State Benefits have been frozen, or increases limited, for a number of years. The Government have however decided to increase many State Benefits from 2020/21 including Child Benefit. The amount payable in respect of the oldest child has been increased to £21.05 and £13.95 for each...

Employees and the self-employed will not pay national insurance contributions (NIC) on the first £9,500 of earnings from 2020/21, a significant increase from the £8,632 limit in 2019/20. Note that employers will be required to pay 13.8% on earnings over £169 per week, £8,788 per...

In light of the current business uncertainty surrounding the Coronavirus pandemic, the Government have decided to delay the introduction of the off payroll working rules which were due to be introduced from 6 April 2020. The legislation is now expected to take effect from 6...

One welcome change, particularly among hospital consultants and GPs, is the increase in the threshold at which the pension annual allowance starts being tapered. From 2020/21 the adjusted income limit will increase from £150,000 to £240,000 which means that most doctors will not be caught...

The basic rate of income tax and higher rate remain at 20% and 40% respectively, and the 45% additional rate continues to apply to income over £150,000.   There had again been rumours that the dividend rate might be increased, but dividends continue to be taxed at...

There has again been much lobbying from the small business sector to reduce business rates to enable traditional retailers in particular to compete with internet traders.   The Chancellor announced a long term review of the future of business rates, but in the meantime there are some...

The Government are predicting that up to 20% of the workforce may be unable to work due to Coronavirus at any one time. It had already been announced that employees would be entitled to Statutory Sick Pay from day 1 not day 4. It was announced in...

Rishi Sunak received a “hospital pass” when he was appointed Chancellor and was required to deliver the first Budget in nearly 18 months within a month of his appointment.  He announced extra spending on roads, rail, broadband and other infrastructure projects as well as extra...

UPDATED: 23 March 2020 16:15   As we are in unprecedented times and there are no doubts that business is going to be tough over the coming weeks / months. This is a guide to some support available to you as business owners at the moment, with links...