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  • Freezing of allowances and thresholds.

    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.

    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.

    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.

    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.

    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.

    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.

    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

    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.

    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 – Are pay-outs taxable?

    Business interruption insurance provides cover for losses as a result of events that close or severely disrupt the business.     

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