The INCREDIBLY INTERESTING History of Income Tax in the UK part 2
It all began in 1582 when Pope Gregory XIII ordered a change of calendar from the Julian (named after Julius Caesar), which had been in use since 42 BC to the Gregorian. The Julian calendar, which consisted of eleven months of 30 or 31 days and a 28-day February (extended to 29 days every fourth year), was […]
The INCREDIBLY INTERESTING History of Income Tax in the UK (part 1)
On 9 January 1799, British Prime Minister William Pitt the Younger introduced a desperate and widely abhorred measure to help cover the cost of his country’s wars with France. As part of his government’s fiscal policy, Pitt introduced a direct tax on his citizen’s wealth – Income Tax. Why was Income Tax introduced in 1799? […]
Autumn Budget 2021 – Budget Brochure
Autumn Budget 2021 – Budget Brochure The Chancellors autumn budget was released on Wednesday 27 October 2021. Whilst a lot of the budget was known before the official announcement there was a lot more detail released on the day. It remains to be seen how the country will financially recover from the Coronavirus pandemic, but […]
Hospitality VAT Rate Change
On 8 July 2020 the government announced it would introduce a temporary reduced VAT rate of 5% to certain supplies relating to hospitality, hotel and holiday accommodation and admission to certain attractions. The reduced rate was intended to help hospitality and hotel businesses through difficult trading conditions as a result of the Covid-19 pandemic. The […]
New appointment boosts firm’s tax offering
Pictured: Neil Whittingham and Scott Lees Wigan based accountancy and business advisory firm NR Barton has appointed former top ten tax advisor Scott Lees to head up its tax offering. Scott, a former Tax Manager at Azets (formerly CLB Coopers) in Bolton, specialises in personal and corporate tax advisory for owner managed businesses. He has […]
National Insurance and income taxes increased to pay for a new social care levy
The Government have today announced the introduction of a new Health and Social Care Levy based on National Insurance Contributions. The purpose of the change is to ringfence and fund investment in health and social care. The changes are expected to raise over £12bn per year for the Treasury. The proposal as presented by Prime […]
Firms still owe HMRC billions after VAT holiday
More than one in four businesses that were allowed to defer tax payments during the spring lockdown last year still owe the Treasury billions. A total of 156,500 out of 590,000 businesses that took advantage of Rishi Sunak’s VAT deferral between March and June have failed to make contact with HM Revenue and Customs (HMRC) to pay […]
COVID-19: Chancellor announces ‘Winter Measures’ support package
Rishi Sunak has today announced his ‘Winter Measures’ support package to help businesses, employees and individuals through the ongoing troubles of the global COVID-19 pandemic. The Chancellor announced a package of measures that includes a new Jobs Support Scheme, extending the Self Employment Income Support Scheme and 15% VAT cut for the hospitality and tourism […]
Coronavirus (COVID-19) Business Interruption Loan Scheme Guidance
Further to our Government Support guide the British Business Bank have now issued their guidance as to eligibility criteria for businesses wishing to access the Coronavirus Business Interruption Loan Scheme (CBILS) as follows: The British Business Bank qualifying criteria for the loan scheme mean businesses must: • Be UK based, with turnover of no more […]
‘Tis the season for trivial benefits
With the season of goodwill upon us our tax team look at a little known and little utilised tax saving, known as trivial benefits. Trivial benefits is a mechanism whereby employees and/or directors can be given trivial benefits such as vouchers or maybe even office pizzas. The benefits are limited to £50 per person in […]
