Accounting News
← Back to Resources-
Freezing of allowances and thresholds
To help meet some of the costs incurred in dealing with the Covid-19 pandemic, the Chancellor announced in his 2021 Budget that a number of allowances and thresholds will remain at their 2021/22 levels until 6 April 2026.
-
CIS compliance for property developers
The Construction Industry Scheme (CIS) is a scheme whereby contractors of building firms are required to deduct tax at source from payments made to sub-contractors working for them
-
Tax allowances frozen until April 2026
The financial impact of the Covid-19 pandemic is unprecedented and borrowing levels in 2020/21 of 16.9% of GDP represent the highest level of peacetime borrowing.
-
Super-deduction for capital expenditure
To encourage companies to invest, enhanced capital allowances are available for expenditure incurred within a limited two-year window.
-
Gift aid – Beware if your income falls
Where a Gift Aid declaration is made, the recipient charity or community amateur sports club can claim back basic rate tax on the donation.
-
Claim expenses for additional costs of working from home
As the 2020/21 tax year draws to a close, many employees will have spent much if not all of the last year working from home.
-
National Insurance contributions for 2021/22
The 2020/21 tax year starts on 6 April 2021. From that date, new thresholds apply for National Insurance purposes.
-
Self-Employment Income Support Scheme – future grants confirmed
The UK Government has today announced that the Self-Employment Income Support Scheme (SEISS) will continue until September with a fourth and fifth grant.
-
Budget 2021
A summary of the announcements made by the Chancellor of the Exchequer Rishi Sunak in the 2021 Budget on Wednesday 3rd March 2021.
-
Business interruption insurance – Are pay-outs taxable?
Business interruption insurance provides cover for losses as a result of events that close or severely disrupt the business.
