Tax – Sutton Coldfield Accountancy

Autumn Statement 2022

Written by Tony Shackleford on November 17, 2022.

The Chancellor’s Autumn Statement included the following measures: The starting point for the top rate of Income Tax of 45% will be reduced from £150,000 to £125,140. The exempt band for Capital...

Autumn Statement

UK Government Mini Budget

Written by Tony Shackleford on September 23, 2022.

The principal proposals announced by the Chancellor in his recent mini budget are as follows: Both employers and employees National Insurance rates will reduce by 1.25% from 6 November 2022. This is...

IR35, Mini budget

Use of Home As Office Tax Relief

Written by Tony Shackleford on September 22, 2022.

HMRC guidance currently allows those working full time from home to claim tax relief as follows: Those in employment at the rate of £4 per week. This works out at £208 per year and provides tax relief...

use of home

Making Tax Digital – An Overview Of Where We Are

Written by Tony Shackleford on September 22, 2022.

Making Tax Digital (MTD) requires those businesses caught by the MTD rules to record their business transactions on compliant software and to submit quarterly returns to HMRC direct from the software. In...

income tax, Making Tax digital, Making tax digital for income tax, MTD

R&D Tax Relief Changes

Written by Tony Shackleford on June 6, 2022.

The environment surrounding R&D tax relief claims has been changing significantly over the last year and will continue to change significantly. There are 2 conflicting goals, which the government...

R&D, R&D tax relief

Pension Access

Written by Tony Shackleford on May 23, 2022.

From April 2028 the earliest an individual will be able to access their pension is by the age of 57. The current access age is 55.

Pensoin access

VAT on Private Tuition

Written by Tony Shackleford on May 3, 2022.

For tutoring costs provided by the private sector to be exempt from VAT, the primary condition is that the subject being tutored is one which is ordinarily taught in school or university. However any...

Vat, VAT Exemption, VAT on tuition

SEISS – Repayment of Overclaimed Grants

Written by Tony Shackleford on April 21, 2022.

From April 2022 HMRC is contacting self employed individuals who have been overpaid grants under the 4th and 5th Self Employed Income Support Scheme. The taxpayers will be provided with instructions...

covid, grants, SEISS, SEISS Overpaid

Financing the Spring Statment 2022 NIC Change

Written by Tony Shackleford on April 11, 2022.

The cost, over 5 years, of the increasing the starting point for payment of employees NIC is £26.3bn per the government. The same government document stated that the changes to the student loan repayments...

spring statement

National Insurance Changes

Written by Tony Shackleford on March 25, 2022.

The Chancellor’s Spring Statement announced a significant change to the charging of employees National Insurance Cotnributions (NIC). The change takes place in July 2022 and it aligns the nil...

National Insurance, NIC

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