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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

In the Budget speech, the Chancellor confirmed that the government would honour its promise to increase the Employment Allowance by a third to £4,000 from April. This represents a tax boost for almost 500,000 small businesses who can claim... Read More

The new Chancellor, Rishi Sunak, has confirmed a Conservative manifesto promise to increase the National Insurance contributions (NIC) thresholds to £9,500. Plans to meet the manifesto pledge were first confirmed by Mr Sunak's predecessor S... Read More

As expected, it has been confirmed that the 2020-21 personal allowance will be maintained at £12,500 and the basic rate limit at £37,500. As a result, the higher rate threshold will also remain at £50,000 from April 2020. The basic... Read More

It has been confirmed by the Chancellor that the Research and Development Expenditure Credit (RDEC) is to be increased from 12% to 13% on 1 April 2020. The RDEC allows companies to claim an enhanced Corporation Tax deduction or payable credit on qual... Read More

The annual exemption for individuals is currently £12,000. From 6 April 2020, this will increase to £12,300. A husband and wife each have a separate exemption. Same-sex couples who acquire a legal status as civil partners are treated in t... Read More

The Chancellor confirmed that a review into the effectiveness of Entrepreneurs' Relief has now been completed. Where this relief is available Capital Gains Tax of 10% is payable in place of the standard rate. The Chancellor had many representatio... Read More

It has been confirmed that the taxable turnover threshold, that determines whether businesses should be registered for VAT, will be frozen at £85,000 until 31 March 2022. The taxable turnover threshold that determines whether businesses can app... Read More

The Corporation Tax main rate will remain at 19% from 1 April 2020. The main rate had been expected to reduce to 17%. However, this reduction was always in doubt after the Conservative election manifesto promised to reverse this announcement. I... Read More

In the face of Brexit uncertainties and the recent Coronavirus outbreak the new Chancellor, Rishi Sunak, was faced with falling economic indicators, the need to boost NHS services and was consequently limited in his options to spend on plans to impro... Read More

As an accountancy firm we love to see our client's businesses thriving and social media can play a huge part in that. We’ve asked Amy, our Marketing Manager, for a few hints and tips to help you on your social media journey. Whatever industry you’re... Read More

Public Health England has published new guidance specifically for employers and businesses on the novel coronavirus, COVID-19. The government says that the new guidance will assist employers and businesses in providing advice to staff on: the nov... Read More

The government has now published its response to the review into the implementation of changes to the off-payroll working rules (IR35) for the private sector. Following the conclusion of this review, the government has confirmed that the changes will... Read More