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From April 2022, the Government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NICs) increases. There will be a 1.25% increase in NICs on earned income, with dividend tax rates also increasing by 1.25%. The money raised will be ringfenced for health and social care costs.

National Insurance and dividend tax rises announced for social care reform Prime Minister Boris Johnson has proposed a number of tax increases for taxpayers across the UK.

Find out everything your business needs to know about Capital Gains Tax, including how to calculate it, when to pay, and what it means when you're selling a business.

Guide to Capital Gains Tax for businesses Find out everything your business needs to know about Capital Gains Tax, including how to calculate it, when to pay, and what it means when you're selling a business.

New legislation is set to be introduced to prevent company directors avoiding investigation into their conduct by informally striking off their company instead of entering an insolvency process.

Company directors to be prevented from avoiding repaying Government-backed loans New legislation is set to be introduced to prevent company directors avoiding investigation into their conduct by informally striking off their company instead of entering an insolvency process.

Tax tips to consider before the 5th April Year End

To help you do this, we have identified some of the key points individual taxpayers, business owners and their families should be aware of.
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Tax tips to consider before the 5th April Year End As we approach the end of the 2020/21 tax year, it is worth taking some time to make sure you have done all you can to ensure your tax affairs are as efficient as they can be.

After months of negotiations the UK and the European Union (EU) have finally agreed to a trade deal, but what does this mean for UK businesses?

Brexit – how will it affect your business? After months of negotiations the UK and the European Union (EU) have finally agreed to a trade deal, but what does this mean for UK businesses?

HMRC has received almost 846,000 reports from taxpayers in the last 12 months of suspicious contact from cyber-criminals purporting to be HMRC via telephone, text messages and emails.

In the event taxpayers experience suspected fraudulent activity, they are encouraged to forward details of suspicious calls, texts or emails to [email protected] or text the information to 60599.

HMRC warns self-assessment taxpayers of latest scams HMRC has received almost 846,000 reports from taxpayers in the last 12 months of suspicious contact from cyber-criminals purporting to be HMRC via telephone, text messages and emails.

Businesses in the retail, hospitality and leisure sectors will benefit from a one-off cash sum worth up to £9,000 per property, with the amount provided depending on the value of their business.
This funding, worth £4 billion in total, is expected to benefit more than 600,000 properties across the whole of the UK.
Check out the details::

Government announces businesses £4.6 billion in new lockdown grants The Government has announced a series of additional grants totalling £4.6 billion to help businesses through the latest lockdown.

https://www.taxassist.co.uk/manchester-south/resources/articles/grants-available-for-eligible-tier-four-businesses-in-england

The government has advised that all Tier 4 businesses required to close will be eligible for grants of up to £1,500 for each 14-day period of closure. Grants will be administered by local authorities. We anticipate grants for eligible businesses could be available as follows:
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Grant available for eligible tier four businesses in England The Local Restrictions Support Grant (LRSG (Closed)) supports businesses that have been required to close due to temporary local restrictions in England.

Details of small business owners claiming state-backed contributions for employees’ wages under the Coronavirus Job Retention Scheme (CJRS) for periods beyond 1st December 2020 will be published online by HMRC as part of its tough-tackling approach to deterring fraudulent claims.

Details of employers continuing to claim furlough scheme to be published Details of small business owners claiming state-backed contributions for employees’ wages under the Coronavirus Job Retention Scheme (CJRS) for periods beyond 1st December 2020 will be published online by HMRC as part of its tough-tackling approach to deterring fraudulent claims.

The Chancellor of the Exchequer Rishi Sunak has announced that the Coronavirus Job Retention Scheme (aka Furlough Scheme) will now be extended until the end of April 2021.

UK Government announces furlough scheme will now end on 30th April The Chancellor of the Exchequer Rishi Sunak has announced that the Coronavirus Job Retention Scheme (aka Furlough Scheme) will now be extended until the end of April 2021.