by Ruth Clark | Oct 28, 2021 | Tax
On 27 October 2021, Chancellor Rishi Sunak gave his second Budget speech of the year. As significant tax changes had been announced in the March Budget, this was widely expected to be more about spending than taxation. Many of these spending plans had been announced... 
by Ruth Clark | Oct 25, 2021 | Tax
To become a net-zero economy by 2050 the UK will remove carbon from power generation, switch to electric vehicles and begin to remove gas boilers from homes, according to the government’s Net Zero Strategy, published on 19 October. The government is required to reduce... 
by Ruth Clark | Oct 15, 2021 | Tax
Taxpayers are being urged to remain cautious of digital approaches claiming to be from HMRC, as tax-related scams have almost doubled in the past 12 months. Writing to voluntary and community sector groups this week, HMRC’s Head of Cyber Security, Mike Fell, starkly... 
by Ruth Clark | Oct 11, 2021 | Tax
Capital gains tax rates to rise? Increasing capital gains tax, possibly by aligning with income tax rates, would be a more visible tax rise but may not collect a great deal relative to the total tax take. Announcing a tax rise for say April 2023, could incentivise... 
by Ruth Clark | Oct 1, 2021 | Tax
From 1 October 2021, the hospitality sector VAT rate will increase from 5% to 12.5% until 31 March 2022, after which time it will return to the standard rate, currently at 20%. On 15 July 2020, the UK government temporarily applied a reduced rate of VAT (5%) to...