Financial Update

Pearson May weekly financial round-up

March 31, 2022
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Pearson May weekly financial round-up

Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Sunak aligns NIC threshold and income tax  Primary threshold and lower profits limit increasing to £12,570. For more details, click here Spring Statement support: Is it enough? Measures announced to mitigate cost of living crisis. Find out...

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Pearson May weekly financial round-up

March 17, 2022
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Pearson May weekly financial round-up

Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Outlook for 2022 economy sours  British Chambers of Commerce and thinktank the Resolution Foundation warn of harsher economic conditions for 2022. Get more information here House of Commons passes Economic Crime Bill Beneficial owners of overseas entities...

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Pearson May Financial Update: The end of the tax year – do you need to take action?

March 8, 2022
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Pearson May Financial Update: The end of the tax year – do you need to take action?

As the end of the 2021/22 tax year approaches on 5 April, it is also a good time to review your affairs, making the most of opportunities to maximise your income and minimise your tax. Some tax planning may require action to be taken before 5 April. Pearson May partner Jacqui Bowden highlights a...

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Pearson May weekly financial round-up

March 3, 2022
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Pearson May weekly financial round-up

Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. House of Lords and NAO raise concerns over IR35  New reports highlight risks and challenges for HMRC. Find out more here Government considers new online sales tax Tax on internet sales would be used to reduce business...

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Pearson May Financial Update: Tax changes affecting limited companies

February 21, 2022
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Pearson May Financial Update: Tax changes affecting limited companies

Despite mounting pressure to scrap the increase in National Insurance Contributions (NICs), the Prime Minister and Chancellor recently confirmed that they are ‘fully committed’ to introducing the so-called “Health and Social Care Levy” on 6 April 2022, writes Pearson May partner Matthew Rutter. With a planned increase in Corporation Tax also due in just...

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Pearson May Financial Update: HMRC postpones late Self-Assessment penalties by a month

January 16, 2022
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Pearson May Financial Update: HMRC postpones late Self-Assessment penalties by a month

For the second year in a row, HM Revenue & Customs (HMRC) has announced that it will not charge the usual automatic late filing penalty of £100 for any 2020/21 Tax Returns that are not filed by 31 January 2022, as long as they are filed by 28 February 2022, writes Pearson May partner...

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Pearson May Financial Update: The taxman has some goodies for your Christmas party – whether virtual or in-person

December 6, 2021
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Pearson May Financial Update: The taxman has some goodies for your Christmas party – whether virtual or in-person

I think we were all hoping that this year’s Christmas parties would be more ‘normal’ following last year’s restrictions, but developments with Coronavirus over the past few weeks have perhaps cast some doubt on that, writes Pearson May partner Matthew Rutter.    Whatever kind of festive celebrations you may be planning for your workplace, whether...

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Pearson May Financial Update: Key changes in the Autumn Budget 2021

November 2, 2021
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Pearson May Financial Update: Key changes in the  Autumn Budget 2021

Chancellor Rishi Sunak delivered the Autumn Budget last week and it was a Budget that aims to ensure that the UK economy bounces back following the coronavirus pandemic, writes Pearson May partner Matthew Rutter.   The main announcements were focused on spending and there were relatively few tax changes.    Income Tax limits and the...

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Pearson May Financial Update: National Insurance and tax on dividends to rise to fund social care

October 7, 2021
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Pearson May Financial Update: National Insurance and tax on dividends to rise to fund social care

The Prime Minister announced last month that National Insurance contributions (NICs) and the three dividend tax rates will all increase by 1.25% from next April to pay for the social care system in England, writes Pearson May partner Jacqui Bowden. From April 6, the basic rate of dividend tax increases to 8.75% (up from...

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Pearson May weekly financial round-up

September 16, 2021
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Pearson May weekly financial round-up

Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Employers and employees to pay 1.25% more NICs  Rise in National Insurance to fund development of the health and social care tax. Find out more here Shareholders and directors hit by dividend tax rate rise The three dividend...

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