Prime Minister Liz Truss has made yet another U-turn in the not so ‘Mini Budget’, this time to Corporation Tax which now, ex chancellor Kwasi Kwarteng, announced back in late-September. Corporation Tax was due to rise from 19% to 25% in April 2023, but was reversed in a dash to ”ignite growth”. Truss has announced …
Chancellor Kwasi Kwarteng has announced a major U-turn for the 45p Income Tax Rate which affects individual’s earning more than £150,000 a year. The Government’s handling of the UK economy has been criticised following the Mini Budget, which the Chancellor delivered on Friday 23 September 2022. An eventful 10 days followed the Mini Budget, which …
What does it mean for you and your business? Announced on Wednesday 21 September 2022, the government are providing a support package for businesses, which will see energy price cuts through a new Energy Bill Relief Scheme. The government will provide a discount on wholesale gas and electricity prices for all UK businesses. The scheme …
What is VAT and how is it applied? Becoming VAT registered is compulsory once your business’ turnover is more than £85,000 within a 12-month period. SeavorChartered can register your business and can also provide you with an end-to-end service which includes the preparation of your business’ VAT along with submission to HMRC. We can assist …
From 19 September 2022, HMRC will be introducing an optional payment method for a reoccurring Direct Debit for PAYE (Pay As You Earn). With a current array of payment methods, employers are responsible for making the PAYE payment each month and entering the details required to enable payment. With the new Direct Debit method, payments …
Yesterday, (Thursday 4 August 2022), The Bank of England increased interest rates by 0.5% to 1.75% making it the highest increase in 27 years. The UK is expected to enter a recession, with the cost-of-living crisis continuing throughout 2023 before beginning to ease in early 2024. The Bank of England have said the increase relates …
The Government announced on 31 October 2020 a further lock down for England commencing on 5 November 2020 to 2 December 2020. Many businesses will be required to close during this period. We empathise with many businesses where this will have a significant detrimental effect. We recommend businesses review their cash position and key areas …
Last Updated: 5 April 2021 If you are self-employed or a member of a partnership and have been adversely affected by Coronavirus you will potentially qualify for a Self-Employment Income Support Scheme Grant. You can make a claim for the grant at https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme. You will require the following details to make a claim: Self Assessment …
Last Updated: 5 April 2021 Coronavirus Job Retention Scheme – EXTENDED UNTIL THE END OF SEPTEMBER 2021 (Previously March 2021) The government’s Coronavirus Job Retention Scheme (CJRS) has been extended until the end of September 2021. Key points regarding the extended scheme: Neither the employer nor the employee needs to have previously used the CJRS …
The chancellor Rishi Sunak announced the government’s plan to protect jobs and support businesses over the winter months on 24 September 2020. The announcements included the following: A new Job Support Scheme An extension of the Self Employment Income Support Scheme Tourism and hospitality sector VAT cut extension Coronavirus Loan payback terms extended Coronavirus Job …
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