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Hello,

This week we take a closer look at measures announced in Chancellor Rishi Sunak's 2022 Spring Statement, we have a new Agent update, late payment interest rises and list of targets in the sanctions list is expanded even further.

Chancellor Rishi Sunak made his 2022 Spring Statement on 23 March 2023. Headline grabbers were a cut in the National Insurance threshold for employees, a future cut in Income Tax and another freeze on fuel duty.

Chancellor Rishi Sunak gave his Spring Statement on 23 March 2022: these are our live highlights, introducing a rise in the National Insurance contribution (NICs) threhold and 0% VAT on energy saving products, increased capital allowances and a reduction in Income tax from 2024. A more detailed summary will follow later today. The chancellor refered to the on-going war in Ukraine and how his is considering the UK's responses to that war and to our security in that respect and in the state of our economy.

Hello,

This is a very busy time for most of us. Have you done all you need to for this tax year? Are you getting ready for the new tax year? 

Hello,

Increasing the rate of Council Tax on second homes has found favour in Wales as a method of addressing a shortfall in local housing. Judging by reports on the news last night, this approach appears to be garnering support in other holiday locations around the country.

The Welsh Government has announced, from April 2023, new Business Rates qualifying conditions for holiday lets and an increase to the maximum amount of Council Tax which can be charged on second homes. This follows changes to Business Rates criteria for self-catering accommodation previously being announced in England and Scotland. 

  1. Bulk filing for late filing penalties back for 2020/21
  2. Nichola's SME Tax W-update 3 March 2022
  3. Nichola's SME Tax W-update 24 February 2022
  4. New take on POS multiple completion contracts
  5. Nichola's SME Tax W-update 17 February 2022

 

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