Autumn 2021 Budget Report

On 27th October 2021, the Chancellor presented the Autumn 2021 Budget Report. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. We’ve summarised the key announcements below.   Tax measures include: a new temporary business rates relief in England for eligible retail, hospitality […]

What are the Tax Allowances for 2021/22?

The tax system can seem very overwhelming for business owners, with so many different tax allowances, tax rates, tax bands. From Personal Tax and Corporation Tax to R&D and Capital Gains, there’s a lot of different figures you may need to refer to. Lucky for you, we’ve put them all in one place here for […]

A breakdown of the 2021 Budget

Budget 2021

On 3 March, Rishi Sunak delivered his second Budget as Chancellor with a three step plan to save, fix and rebuild the economy during and after the COVID pandemic.   Unsurprisingly, Sunak started the Budget with updates to the ongoing Covid support measures, extending the furlough and SEISS schemes and announcing additional support to help businesses reopen as the economy starts to reopen. Other announcements […]

CJRS and SEISS: how to correct an over claimed grant

HMRC Business Tax Account

Unsurprisingly, HMRC has announced how they will be cracking down on fraudulent grant claims. Due to the speed and urgency that claims were made and issued, there are likely to be a number of innocently miscalculated grants and HMRC is requesting that businesses double-check their calculations and notify HMRC within 90 days of receiving any […]

Coronavirus Job Retention Scheme: flexible furloughing explained

After four months of financial support in the form of the Coronavirus Job Retention Scheme (CJRS), the government is introducing flexible furloughing from 1 July 2020. This will allow employers to bring employees back to work gradually as demand increases and UK businesses start to reopen. Key Changes: The flexible furlough scheme (FFS) is not […]

Coronavirus Job Retention Scheme: your FAQs answered

The Coronavirus Job Retention Scheme (CJRS) allows employers to access a grant to cover most of the wages of their workforce who remain on the payroll but are temporarily not working due to the coronavirus outbreak.