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Taxpayers have until Friday 3 March to pay 2021/22 self assessment tax bills or face penalties equal to 5% of the outstanding tax. The first late payment penalty is calculated at 5% of the amount for 2021/22 still outstanding on 3 March 2023. If you agree a time to pay arrangement with HMRC and do… Read more

The future policies for the UK economy, which will be announced in the second budget of Chancellor Jeremy Hunt, could be one of the most difficult to predict for a long time. This follows on from an Autumn Statement in November 2022 which came at a time when inflation was increasing quickly and the stock and… Read more

Checking that your personal affairs, your family and business affairs, and your plans for the long term are arranged as tax efficiently as possible is always important: and the period before the end of the tax year, on 5 April 2023, is the best time to do so. This year, such a review may be… Read more

Those planning to claim the UK state pension, are urged to check their national insurance (NI) record before 5 April 2023. Currently, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April. The Tax Faculty has created a checklist of actions. National insurance contributions are typically… Read more

The year 2023 looks set to be an interesting one for the development of individual employment law rights, with a number of Bills currently on their way to become law that will change existing, and provide additional, rights to employees that will help them to better balance their work and personal commitments, which is set… Read more

On 17 November 2022, the government undertook the third fiscal statement in as many  months, against a backdrop of inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The government  sought a balanced path to support the economy and return to growth, partially through public spending restraint and partially… Read more

As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, ‘The Growth Plan’. Three weeks later, after huge turmoil, a reversal of most of the elements of that plan and a new statement… Read more

Hunter Gee Holroyd have produced a Tax Card which summarises many of the rates and allowances fundamental to your business and personal lives. It’s a great point of reference throughout the coming tax year and contains lots of information on personal, business, employment, property and capital taxes, including any changes. Our guide contains information on… Read more

Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses. The Chancellor will lift the starting… Read more

The Recovery Loan Scheme is running until 30th June 2022. You might be thinking why is this important or could this be relevant to my business? Well, the government continues to support SMEs as they rebuild out of the pandemic. At present, should your business be approved for a Recovery Loan, lenders will not require… Read more