COVID-19 postpones off-payroll extension to the private sector

The Government has delayed extending the controversial off-payroll working rules to the private sector, as the UK fights to contain the coronavirus pandemic. Hot on the heels of announcing a £350 billion support package for struggling businesses, the Treasury pulled...

Tapered annual pension allowance rises to £200,000

The decision to raise the tapered annual allowance thresholds in last week's Spring Budget delivered a timely boost to high earners. As of next month, the point at which the tapering of the £40,000 annual pension allowance kicks in increases to £200,000 - up from...

Govt. provides £330bn lifeline to businesses

The Government has pledged £330 billion-worth of state-backed loans to support businesses feeling the effects of the coronavirus epidemic. To put that unprecedented figure into context, it represents around 15% of the value of the entire UK economy. The financial...

Entrepreneurs’ relief: lifetime limit cut to £1m

If you were planning to sell your business or shares in the near future, you may need to revisit your plans, after the announcement in Spring Budget 2020 that the entrepreneurs’ relief lifetime limit has been reduced from £10 million to £1m. The change took place with...

HMRC stops sending out paper tax returns

A minority of self-assessment taxpayers will no longer receive blank paper tax returns through the post. HMRC is to stop automatically sending out these blank copies in an attempt to get more taxpayers using the Revenue's online services. Last April, HMRC...