The Chancellor of the Exchequer, Jeremy Hunt has confirmed, in a written statement, that the next UK Budget will take place on Wednesday, 15 March 2023. This will technically be the Chancellor’s first Budget although his Autumn Statement to the House of Commons on 17 November 2022 included many announcements more typically seen in a

A statement was made by the Financial Secretary to the Treasury on 19 December 2022. It confirmed that the roll-out of Making Tax Digital for Income Tax, due to commence April 2024, is being delayed. The statement says: Across the globe, digitalisation of tax is increasingly the norm. Modernisation of UK businesses and the tax

The GAAR Advisory Panel has recently published an opinion that covers unauthorised payment from registered pension scheme involving debt arrangement. The GAAR panel is clear in its opinion that entering into or carrying out these types of tax arrangements is not a reasonable course of action in relation to the relevant tax provisions. The General

Have you considered any last-minute planning options if your company has a 31 December 2022 year-end date? It is not too late to consider your options. For example: Expenditure on qualifying plant or other equipment may qualify for the super-deduction capital allowance. This would allow you to write off 130% of cost against your profits

The Money Laundering Regulations (MLR) are designed to protect the UK financial system by placing certain controls to prevent businesses being used for money laundering by criminals and terrorists.  Many businesses are monitored by the Financial Conduct Authority (FCA) or belong to a professional body such as the Law Society. However, businesses that HMRC is responsible for

The government has published its response to its 2021 consultation on making flexible working the default, and this confirms its intention to introduce changes to the statutory flexible working regime. The response states that the government will take forward the following measures: make the statutory right to request flexible working a day one right (by

The Energy Bills Support Scheme came into effect on 1 October 2022 to help tackle the energy crisis. This guarantee means that the average household will have their energy bills capped at £2,500 a year until 31 March 2023. The actual energy bill for households could be higher or lower depending on the size of

According to proposals set out in a government policy paper, the revised rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), statutory shared parental pay (ShPP), statutory parental bereavement pay (SPBP), and statutory sick pay (SSP) for tax year 2023/24 are to be as follows: the standard weekly rates of

The Annual Tax on Enveloped Dwellings (ATED) is payable by certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than £500,000. These provisions affect certain companies, partnerships with company members and managers of collective investment schemes described in the legislation as NNPs. There is no ATED or ATED-related Capital Gains Tax payable

1 December 2022 – Due date for Corporation Tax payable for the year ended 28 February 2022. 19 December 2022 – PAYE and NIC deductions due for month ended 5 December 2022. (If you pay your tax electronically the due date is 22 December 2022). 19 December 2022 – Filing deadline for the CIS300 monthly