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Tax changes for health & social care

Health and Social Care changes

The government has announced tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance contributions will increase by 1.25% for one year only for employees, employers and the self-employed from April 2022. This will cover both Class 1, (employee and employer), Class 1A, 1B and Class 4 … Read more

Budget 2021

Budget 2021 Autumn

In the 2021 Budget Chancellor announced a number of important tax reforms and confirmed legislation for the forthcoming Finance Bill. A summary of key measures include: the conclusions of the government’s review of business rates reform of Research and Development tax reliefs to support modern research methods, refocusing support towards innovation in the UK and to … Read more

Extended Loss Carry Back

Extended Loss Carry Back

The Extended Loss Carry Back measure announced at Budget 2021 allows businesses to make claims to carry back losses for a further two years than current rules allow. This temporary extension applies for losses in accounting periods ending between 1 A‌pr‌il 2020 and 31 M‌ar‌c‌h 20‌‌‌22.  Claims over £200,000 must be made in a company tax … Read more

Budget 2021

Budget 2021

As part of the Budget released 3rd March, 2021 the UK Government has announced further support for employers and the self employed. Help for Employers: The personal tax allowance will increase from £12,500 to £12,570 for the new tax year 2021-22 and the plan is to keep it at this level until 2026. The higher … Read more