Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Pension freedoms age to increase from 55 to 57 Plans to be written into Finance Bill 2022 and take effect from April 2028. What’s changing? Find out more here ‘Cladding tax’ a step closer to 2022/23 introduction HMRC...
Global accountancy group PwC has promoted Paul Atkinson to head of financial services for the West & Wales as it continues to build its presence in an industry worth more than £10bn to the regional economy. Paul, pictured, replaces PwC global insurance operations leader Will Conner in the role. He has a long track record...
Bath accountancy firm Pearson May and Bath Business News team up with each week to bring you the top national finance stories. Where do we stand with the UK’s property taxes? More changes to the UK’s property taxes took effect this month. Find out more here Thousands of savers caught out by pension tax traps Breaches of two pension...
In recent years, the tax landscape for property investors has changed dramatically, perhaps no more so than when it comes to non-resident capital gains tax (NRCGT). Indeed, most tax benefits that derived from having non-resident status have now been eliminated and with the new surcharge for SDLT of 2% from April 1 this year,...
Certain benefits and expenses provided to employees in the year to April 5, 2021, must be reported to HM Revenue & Customs (HMRC) by way of the P11D process by July 6, 2021, writes Pearson May partner Matthew Rutter. Where required, forms P11D ‘Expenses and Benefits’ have to be submitted to HMRC, together with...
The Covid-19 pandemic has been affecting us all for more than a year now. My fellow regional agents and I know that those businesses that rely heavily on being able to have customers visit them in person – for instance, the hospitality and tourism sectors right across the South West – have been particularly...
The events of the past year have led the UK to spend more than £280bn protecting jobs and businesses, with this week’s Budget promising a further £65bn of spending through new loans, grants and the extension of several important schemes. The measures confirmed in the Chancellor’s speech will play an integral role in helping...
This week’s Budget was unprecedented, with much-needed spending pledged to aid the UK’s economic recovery and support businesses and individuals through the pandemic, alongside what will clearly be the first of many future tax raises to help repay the country’s escalating national debt. Although some of the Chancellor’s key announcements had already been reported...
The CBI said Chancellor Rishi Sunak’s decision to hike Corporation Tax to 25% in one leap – the first increase since 1974 – would “cause a sharp intake of breath” for many businesses. It also warned that the move – which is planned to come into effect in 2023 – sent a worrying signal to those...
Chancellor Rishi Sunak has delivered his Budget this afternoon. The main points are: No rise in VAT, income tax or national insurance Corporation tax to rise from 19% to 25% from 2023 but only 10% largest companies will pay, Chancellor claims ‘Super deduction’ in tax for companies that invest in innovation Eight ‘Freeports’ established to deliver ‘an unprecedented economic...
