Mar 3, 2021 | Government AnnouncementsPersonal Tax
Personal tax thresholds frozen until 2026 In 2021/22, the personal allowance will rise to £12,570 and the higher-rate threshold to £50,270 - but after that, both thresholds will remain frozen until 2025/26. The same goes for the £325,000 inheritance tax threshold, the...
Mar 3, 2021 | Business TaxPersonal Tax
COVID-19 financial support extended Jonathan Geldart, director-general of the Institute of Directors, said: "The extension to the furlough scheme will provide a vital cushion to support jobs as restrictions unwind and firms begin the costly process of rescaling....
Dec 22, 2020 | Personal Tax
The Government currently has no plans to extend the stamp duty land tax (SDLT) holiday in England and Northern Ireland beyond next spring. On 8 July 2020, Chancellor Rishi Sunak raised the stamp duty land tax-free threshold from £125,000 to £500,000 until 31 March...
Sep 8, 2020 | Business TaxPersonal Tax
HMRC has announced UK VAT is payable on most early contract termination and cancellation fees, in a change to its previous practice. The tax authority said following recent judgements of the European Court of Justice, it is “evident that these charges are normally...
Aug 18, 2020 | Personal Tax
A post-lockdown boom in housing market activity has seen house sales rise to their highest recorded level in ten years, according to property website Rightmove. The platform reported that sales in August were up by 20% on the previous recorded high, with a total value...
