Income tax basis periods reform

Income tax basis periods reform

In the 2021 Budget. proposals to reform the income tax basis periods were confirmed.  The intention was to help with the introduction of Making Tax Digital for Income Tax Self Assessment (MTD ITSA). This will affect all business who have accounting periods that do not...
Reaction to Mini-Budget 2022

Reaction to Mini-Budget 2022

Chancellor Kwasi Kwarteng has outlined a series of tax cuts and economic measures in a massive shake-up of the UK’s finances. In a bold statement, the Chancellor is hoping that massive borrowing alongside tax cuts will kick-start the economy and provide relief...
Reaction to Mini-Budget 2022

Paul Short – Plan for growth/mini-budget reaction

I reminded myself that this was a mini budget statement as I pondered some of the items which were missing from the headlines. I was also cautioned by one of my canny farming clients this morning that the devil is always in the detail. Having said that, I thought...
Reaction to Mini-Budget 2022

Craig Weavers – Plan for growth/mini-budget reaction

The government has been bold with tax cuts which will impact both businesses and individuals. Individuals have been given good news with the cut in basic rate tax by 1% being brought forward early from April 2023. Additional rate tax payers will be very happy with the...