budget Archives - Page 9 of 32 - Whitefield Tax - Isle of Wight Accountants

Restart Grants – April 2021

by Jessica Garbett | Mar 18, 2021 | budget, business issues, Covid19

In Spring Budget 2021 the Chancellor announced Restart Grants for certain businesses closed during lockdown. Details were published on 17th March 2021, in the form of Guidance for Local Authorities The pertinent details are: 1 – Available to businesses who pay...

Employers of ex-military get national insurance holiday

by Jessica Garbett | Mar 8, 2021 | ACCA, budget, business issues

Relief applies to recruitment of former members of the UK regular armed forces The Chancellor announced the introduction of a national insurance contributions (NIC) holiday for employers that hire former members of the UK regular armed forces. The relief is available...

Plastic packaging tax will be introduced this year

by Jessica Garbett | Mar 8, 2021 | ACCA, budget, business issues, business taxation

New regulations could lead to 200,000 tonnes of carbon savings in 2022-23 and increase use of recycled materials by 40% Legislation will be introduced in Finance Bill 2021 to establish a plastic packaging tax. This new tax will apply to plastic packaging manufactured...

Research & Development tax relief – Budget Changes

by Jessica Garbett | Mar 5, 2021 | ACCA, budget

Anti-abuse measures for SMEs R&D tax relief and R&D reform with more on the horizon. From 1 April 2021 SMEs applying for R&D tax credits will be eligible for a maximum £20,000 in repayments per year plus three times the company’s total PAYE and NICs...

Freeze coming on pension lifetime allowance

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, pensions

Plan ahead – there is a freeze coming from 2021 to 2026. Legislation will be introduced in Finance Bill 2021 to remove the annual lifetime allowance link to the Consumer Price Index increase for the next five fiscal years. This change will maintain the standard...

Maintaining annual exempt amount for capital gains tax

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, capital taxation

A freeze on the annual exemption amount to 2026! Legislation will be introduced in the Finance Bill 2021 to maintain the annual exempt amount at its current level of £12,300 for individuals and personal representatives and £6,150 for most trustees of settlements for...

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Restart Grants – April 2021

Employers of ex-military get national insurance holiday

Plastic packaging tax will be introduced this year

Research & Development tax relief – Budget Changes

Freeze coming on pension lifetime allowance

Maintaining annual exempt amount for capital gains tax

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