The past year and half has been a tough time for most of us. This includes the UK’s army of employees, a large proportion of whom have had to adapt to new conditions such as being furloughed and/or working from home. Thankfully many businesses have weathered the storm...
Once again we look back at the announcements made in the March Budget 2021, in particular, the special rate capital allowance and super-deduction measures. (See our previous Tax Tuesday blog, Are you benefitting yet from the new super-deduction and special rate...
As Making Tax Digital for Income Tax (MTD ITSA) draws closer, Tax Tuesday this week looks at the current government consultation (ending on 31 August 2021) to alter the way an unincorporated business is taxed from the profits arising in the basis period to the profits...
This week Tax Tuesday highlights the increasing UK inheritance tax take and the value of planning to reduce the IHT burden on your family and beneficiaries. The UK government collected £5.32 billion in Inheritance Tax in 2020/21. The inheritance tax take is only going...
With the pandemic causing utter economic disruption, it isn’t surprising that some things took a back seat with priorities emphasised at providing financial support to businesses across the UK. Tax Tuesday returns this week to briefly highlight, and probably...
According to the Adam Smith Institute, “Tax Freedom Day” this year was 31 May 2021. This is the latest point in the year since reliable records on the statistic have been compiled (i.e. since 1995). Tax Freedom Day is the Institute’s best effort to assess when, in a...
