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Tax Increases

Tax Increases social care

The Government has confirmed there will be tax increases to cover the cost of social care and health care. The Prime Minister’s plans to tackle the Covid backlog, reform adult social care, and to bring the health and social care system closer and more sustainable for the long term have been released. £36 billion will … Read more

National Minimum Wage

pay rates 2021/22

HMRC reveals absurd excuses for not paying National Minimum Wage With the vast majority of employers pay their employees at least the National Minimum Wage. HM Revenue and Customs (HMRC) has released some of the most absurd excuses used for not paying the legal minimum. During the 2020/21 year HMRC helped more than 155,000 workers … Read more

MTD for Self Assessment

Self Assessment

Following on from the introduction of Making Tax Digital (MTD) for VAT, HMRC are preparing to introduce MTD for self assessment. Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. HMRC’s ambition is … Read more

Stamp Duty Land Tax

Stamp Duty Land Tax

Stamp Duty Land Tax (SDLT) is payable when you buy property or land over a certain price in England and Northern Ireland. UK Residents Thresholds As of the 1st October 2021 the thresholds were: 125,000 for residential properties 150,000 for non-residential land and properties First time buyers are eligible for a relief providing they are … Read more

Child Benefit for 16 year olds

Child Benefit 16 year olds

The deadline to update Child benefit for 16 year olds is the 31st August 2021. Parents/carers should confirm to HMRC whether their teenagers are staying in full-time education beyond 16. Now GCSE results are know and teenagers are now considering their future it’s time to notify HMRC to determine if parents/carers are still eligible for … Read more

Tax free earnings for teenagers

Tax cap for teenagers

The tax free earnings for teenagers has been capped at £1000. Therefore young people need to be aware they may have to declare income and pay NI contributions on summer jobs. Tax and advisory firm Blick Rothenberg is warning teenagers to make sure they stay within the tax-free limit to avoid incurring an unwanted tax … Read more

Penalty Suspension Ended

Companies House Filing Penalties

Penalty suspension for late filed accounts has ended. UK registered private companies, public companies, and limited liability partnerships (LLP) will once again be given an automatic penalty when they file their accounts later than the deadline. Over the last 18 months, Companies House has introduced multiple measures to help businesses file their accounts including developing … Read more

Fifth SEISS Grant Portal Open

COVID- 19 Grants

The fifth SEISS grant can be claimed if you think that your business profit will be impacted by coronavirus between 1 May 2021 and 30 September 2021. The online application portal is now open! The application process for the fifth SEISS grant will depend on details of two years of turnover and losses resulting from the … Read more

Furlough Scheme Changed

Furloug Scheme Changed 1st July 2021

The Government contribution towards the furlough scheme changed as of the 1st July 2021. From 1st July, the level of grant reduced with employers now contributing towards the cost of furloughed employees’ wages. To remain eligible furloughed employees must still be paid 80% of their wages (up to a cap of £2,500) for the time … Read more

Starting a Business

Starting a business

The AJR guide to getting it right! Your Limited Company has been formed what next? When starting a business there are lots of important decisions to make, an accountant that you can rely on is just one of them. With this in mind we have put together a short checklist to help, although different businesses … Read more