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Dividend tax increase 2022

As well as increasing National Insurance contributions from April 2022 – the 1.25% increase announced earlier this month – the Treasury also increased the hybrid income tax rates applied to dividends received, by the same amount and from the same...

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HMRC warns students of tax scams

HMRC is warning university students new to the world of working to be wary of potential scams. With higher numbers joining university, we are likely to see more students take on part-time work. As many young people may be unfamiliar...

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NIC and Levy high jinks

No surprises when the Prime Minister announced a hefty 1.25% increase in NIC Class 1 and Class 4 rates from April 2022. The announcement was widely predicted. Effectively, this is a tax increase on earnings (employed or self-employed) and on...

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Government backs UK entrepreneurs with six hundred million of Start Up loans

The UK Government’s Start Up Loans scheme has now provided £600 million in loans to small businesses outside London, providing extensive support for entrepreneurs across the UK. The initiative, run by the British Business Bank, was created in 2012 to...

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What is round the corner?

Having glimpsed the light at the end of the COVID tunnel, many of us will have everything crossed that progress towards normality will continue. The winter months are not a brilliant time for infection and we should expect the usual...

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Hundreds of business names dismissed by Companies House during pandemic

Over the last two years, Companies House has disallowed more than 800 business names for being ‘too offensive’. Building That Fought Hitler Limited, Cambridge Cannabis Club Limited, Fancy a Bomb Ltd and Fit as Fork Ltd are among the company...

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Tax-free childcare costs

Families are reminded that they may be able to claim for tax-free childcare costs to help pay for breakfast and after school clubs as children go back to school. In a recent press release HMRC confirmed that Eligible families can...

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SMEs can enhance business performance by joining Peer Network scheme

A government-funded Peer Networks scheme is offering support to small and medium-sized enterprises (SMEs) across the UK. The programme, which is free to join, helps organisations tackle common business challenges through interactive action learning. Additionally, the scheme’s trained mentors help...

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Supply chain issues gaining traction

News broke in recent days that McDonalds were running out of supplies. As a direct result of these supply chain issues their iconic milk shakes are being dropped from menus together with other bottled drinks. These particular shortages will apply...

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Tax collection options

If you do not pay your tax bill on time and cannot make an alternative arrangement to pay, HMRC can take ‘enforcement action’ to recover any tax you owe. You can usually avoid enforcement action by contacting HMRC as soon...

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