While the UK officially left the European Union on 1 January 2021, the planning and preparations do not stop there. Ahead of the new tax year, we look at the key dates and rule changes your business needs to know about. March 2021: the Brexit Recovery Fund opens for applications Launching this week, the Brexit […]
SME Brexit Support Fund goes live
The Government has now launched its £20 million SME Brexit Support Fund – apply today! The SME Brexit Support Fund has been designed to help SMEs with the new rules that apply to trading with the EU following the end of the Brexit transition period. The fund offers grants worth up to £2,000 to enable businesses who […]
Government review of the R&D tax system – A new horizon for funding and relief?
On 3 March 2021, the Chancellor outlined several plans to invest in innovative UK businesses and the research and development (R&D) sector, including by reviewing the existing R&D tax credit system.
Positive post-Covid outlook for UK recruitment sector, according to a new international report
In the last year, the recruitment sector has been fairly volatile, with certain sectors cutting back on hiring, while others, such as the tech industry, have seen demand for new roles increase.
Extension of Stamp Duty Holiday offers landlords last chance to incorporate at a reduced cost
Thousands of property buyers and sellers will be pleased to learn that the Chancellor has not only extended the Stamp Duty Land Tax (SDLT) holiday, but also offered a follow-on temporary change to the threshold to provide support to the sector for longer.
Student loan thresholds to rise from 6 April 2021
At the start of the new tax year in April the thresholds for student loans will increase, which may affect employees that are repaying their academic fees. The threshold for student loan Plan 1 will increase from £19,390 to £19,895 from this date, and employees on Plan 2 will see their student loan threshold rise […]
HMRC updates tax rules and calculations on ultra-low emission vehicles
HM Revenue & Customs (HMRC) has released new guidance that brings changes to the company car benefit calculations, as the Government looks to encourage greater use of ultra-low emission vehicles (ULEV). Under the new rules, if a ULEV has a CO2 emission figure of 1-50g/km, businesses will now need to provide the car’s zero-emission mileage, […]
Almost two-fifths of small businesses are looking to trade overseas
Despite the impact that Brexit has had on trade in the UK, a new survey conducted by YouGov has found that 38 per cent of small businesses are likely to trade overseas this year. The study, commissioned by Lawbite, found that of the 791 small businesses questioned two-fifths were planning to trade overseas, which scaled […]
National Living Wage and National Minimum Wage rates to increase from 1 April
The Government is pressing ahead with plans to increase the rates of the National Living Wage (NLW) and the National Minimum Wage (NMW) from 1 April 2021, while people aged 23 and 24 will be entitled to the National Living Wage for the first time. The NLW will rise from £8.72 an hour to £8.91 […]