Spring Statement 2022 Chancellor Rishi Sunak announced his Spring Statement in the Commons today (Wednesday 23rd March). There have been calls for the Chancellor to scrap the health and social care levy, over the past few months, in response to the cost of living squeeze. Pressure was also being applied to introduce a fuel duty
Chancellor Rishi Sunak delivered his Autumn Budget announcement in parliament today to outline government spending and plans for the future. In the Budget, Rishi Sunak set out measures to support the recovery of the UK economy following what has been a difficult year for many families and businesses. Although it was announced prior to the
Earlier this month Chancellor Rishi Sunak announced a number of tax allowances will be frozen to help pay off the debts incurred by the coronavirus pandemic. These new ‘stealth taxes’ will raise billions, without directly increasing charges for taxpayers. As the economy bounces back and the cost of goods and services increases, more people will
Earlier this week the Chancellor outlined his plans to get the economy going again, following the impact of the coronavirus pandemic. On Wednesday, Rishi Sunak announced the following: Furlough scheme extended until the end of September Self-Employment Income Support Scheme 4th and 5th grants confirmed Income tax thresholds frozen until 2026 Stamp duty holiday extended
This years highly anticipated Budget will be watched closely by many as Chancellor Rishi Sunak sets out the UK’s economic recovery, following the coronavirus pandemic. The Chancellor will outline the state of the economy and the government’s plan to either raise or lower taxes. The Budget will also forecast how the UK economy could perform
Ahead of the Budget announcement next week, there has been a lot of speculation surrounding what the Chancellor is set to announce. According to media sources, Rishi Sunak is planning to extend the Stamp Duty holiday until the end of June. The current deadline for the holiday extension is 31st March. The Chancellor has been
Supermarket retail giants have asked the Chancellor to introduce a sales tax for online competitors, to create a level playing field. They have said that the current tax system puts retailers with large estates at a disadvantage compared to online retailers. Property based business rates have been temporarily paused since the start of the coronavirus
With less than a month to go until the Chancellor announces his March Budget, Rishi Sunak is reportedly considering a number of tax rises. The Chancellor is now facing the task of repaying the £400billion deficit, caused by the coronavirus pandemic. Rumours have been circulating in parliament regarding how the Chancellor plans to deal with
Chancellor Rishi Sunak is set to announce the latest details for the fourth Self-Employment Income Support Scheme (SEISS) grant, in the upcoming Budget on 3rd March 2021. The grant will take into account self-employed worker’s earnings from February to April 2021. The government has spent £13.7billion on SEISS grants since the pandemic began in March
Chancellor Rishi Sunak is said to be considering increasing corporation tax in the March Budget. Following the devastating impact from the coronavirus pandemic, the government now has an estimated £400bn deficit to pay off. The government has spent billions trying to support businesses and prevent job losses by introducing the Furlough Scheme and Business Support Grants.
Following Boris Johnson’s announcement of a third national lockdown in England, the Chancellor has announced further grants totaling £4.6 billion. A one-off grant worth up to £9,000 per property, will be available for those businesses in the retail, hospitality and leisure sectors, who have been affected by the latest coronavirus restrictions. Around 600,000 properties are
The UK Government has confirmed the Coronavirus Job Retention Scheme will be extended until the end of April 2021. The scheme was set to expire at the end of March 2021 but has now been extended for another month. Under the scheme, the government will continue to pay employees 80% of wages for hours not
Coronavirus Job Support Extended by Chancellor On 5th November 2020, the Chancellor announced in the House of Commons that he would be extending the Furlough Scheme and the Self-Employed Income Support Scheme, following the news of a second national lockdown for England. The Furlough Scheme was set to end in December 2020 however, it has
Chancellor Rishi Sunak has been looking for ways to cover the costs of the devastating financial impact caused by the coronavirus pandemic. The UK’s economy has been hit hard during the pandemic and the government are now looking for ways to gain back funds. Rishi Sunak has reassured the nation that there will not be
England is preparing to face another national lockdown following Boris Johnson’s announcement over the weekend (31st October ). The PM addressed the nation telling people they must stay at home from 5th November until 2nd December, when rules will be reviewed. All non-essential shops along with bars and restaurants will have to close however, schools
Following the Chancellor’s announcement regarding the Job Support Scheme, a Policy paper has been published by the government to provide additional information about the scheme. The scheme is designed to help protect jobs in businesses where demand is expected to fall during the coming winter months due to the coronavirus. There are two different types
Today in his speech to the House of Commons the Chancellor, Rishi Sunak announced his latest plans to help protect jobs amidst the ongoing coronavirus pandemic. Whilst the primary goal to protect people’s jobs remains unchanged, Mr. Sunak has confirmed that the way to approach this must change. Mr. Sunak has confirmed that the furlough
The Treasury have announced that the autumn budget, which was planned for October, has now been scrapped. This coincides with the recent announcements made by the Prime Minister, introducing stricter restrictions on England. The autumn budget, which would have laid forth a plan to potentially start recouping the costs of the pandemic, has been scrapped
Job Retention Bonus Clarification for Employers Following the announcement during the summer economic update by the Chancellor, Rishi Sunak, HMRC have published a policy paper on the eligibility requirements for employers seeking to claim the job retention bonuses. Employers will be able to claim for employees who: Were furloughed and had a Coronavirus Job Retention
Tonight, Chancellor Rishi Sunak announced support for the self-employed. The scheme introduced is aimed to assist 95% of those who are currently self-employed. As stated during the chancellor’s briefing, the Government will pay those who are self-employed a grant of 80% of their average monthly profits over the last 3 years – up to a
