Insider Newsletters

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Dec 2021 – Insider Newsletter

A new levy on large residential property developers’ profits intends to raise around £2 billion over the next 10 years, starting from next spring.

Chancellor Rishi Sunak has extended a coronavirus loan guarantee scheme in a bid to protect UK businesses into next year.

Buy-to-let landlords and second homeowners have twice the amount of time to report and pay capital gains tax after selling a residential property in the UK.

Reforms to the ways in which unincorporated businesses pay income tax – known as basis periods – will go ahead, one year later than planned.

Nov 2021 – Insider Newsletter

Salary-sacrifice arrangements could help employees negate the National Insurance contributions (NICs) rise during 2022/23.

VAT for pubs, restaurants, holiday accommodation and entry to certain attractions increased from 5% to 12.5% last month, following the end of a tax break.

Thousands of retail, hospitality and leisure firms in England will receive a short-term business rates reprieve in 2022/23, following Autumn Budget 2021.

The temporary increase to the annual investment allowance has been extended by 15 months, just eight weeks before it was due to expire.

Oct 2021 – Insider Newsletter

The stamp duty land tax holiday in England and Northern Ireland has come to an end, more than 14 months after it first came into effect.

Millions of trustees need to register details of their trusts before next autumn, following the launch of a new trust registration service.

The Government is being urged to introduce a new road-pricing system, because the increasing popularity of electric vehicles risks leaving a £30 billion hole in public finances each year.

National Insurance contributions (NICs) and the three dividend tax rates will all increase 1.25% from April 2022 to pay for the social care system in England.

Sept 2021 – Insider Newsletter

The self-employed have until the end of the month to apply for the final grant available via the self-employed income support scheme (SEISS).

The Government could be set to raise National Insurance contributions (NICs) by 1% for both employers and employees, a report has claimed.

A minority of UK employers could be about to cut jobs, due to the withdrawal of the furlough scheme and rising costs.

HMRC collected a record of £9.9 billion from capital gains tax receipts in 2019/20, according to official statistics published last month.

Aug 2021 – Insider Newsletter

The stamp duty land tax-free threshold in England and Northern Ireland reduced last month, as the tax holiday introduced in July 2020 began to be phased out.

Employer contributions towards furloughed workers’ wages have increased again, as the furlough scheme prepares to close for good on 30 September 2021.

Business rates revaluations in England could take place every three years, following the launch of a recent consultation.

The number of savers who breached the annual allowance and the lifetime allowance increased in 2018/19, according to government statistics.

July 2021 – Insider Newsletter

Retailers that heavily rely on online sales to EU consumers need to comply with VAT reforms, which were introduced on 1 July 2021.

Almost 2,000 people who thought they’d reduced the values of their estates by making gifts have seen an inheritance tax break stripped away.

The Office of Tax Simplification (OTS) is to explore changing the end of the tax year from 5 April to either 31 March or the end of the calendar year.

The UK’s research and development (R&D) tax credit system is failing to prompt companies to increase spending and could prove a “costly failure”, a report claims.

June 2021 – Insider Newsletter

Smaller businesses have until the end of the month to apply for grants to help them adapt to new customs and tax rules when trading with the EU.

Employers should remind working parents that they can reduce contributions into the childcare voucher scheme while they work from home.

Most large companies and limited liability partnerships (LLPs) back plans to introduce mandatory climate-related financial disclosures, according to a report.

The 5% VAT repayment supplement is set to be replaced with the 0.5% repayment interest rate for accounting periods beginning on or after 1 April 2022.

May 2021 – Insider Newsletter

Investment in the UK’s manufacturing sector is poised to increase as a result of the capital allowances super-deduction.

A million businesses need to have digital links in place to submit VAT returns and comply with phase two of Making Tax Digital (MTD) for VAT.

Four new measures affecting the construction industry scheme (CIS) were enacted from 6 April 2021 as HMRC cracks down on tackling abuse of the scheme.

Payments into defined-contribution workplace pension schemes increased in the third quarter of 2020, according to the Office for National Statistics (ONS).

April 2021 – Insider Newsletter

The year-long business rates holiday in England has been extended for another three months, until the end of June 2021.

All UK businesses can access loans and other finance of up to £10 million each, following the end of COVID-19 loan schemes

The Treasury has frozen the UK’s VAT thresholds for a further two years in a bid to start repairing tattered public finances following COVID-19.

More help for the self-employed has been announced, with the final two income support grants available until the end of September 2021.

March 2021 – Insider Newsletter

Businesses that deferred paying VAT between 20 March 2020 and 30 June 2020 do not need to pay the full amounts by the end of this month.

A 0.5% increase to the personal allowance and higher-rate of income tax will be in place from 6 April 2021, according to the Treasury.

Thousands of small businesses that face severe cashflow problems due to late payments stand to benefit from changes to the prompt-payment code.

Around 1.8 million taxpayers missed the 2019/20 deadline for self-assessment on 31 January 2021, according to figures published by HMRC.

February 2021 – Insider Newsletter

Businesses in the sectors hardest hit by COVID-19 can access new one-off grants to help them get through lockdown.

Extending the furlough scheme until the end of April 2021 is showing evidence of minimising job losses, a report claims.

At least 250,000 small firms could permanently close this year, the Federation of Small Businesses (FSB) has warned.

Retailers experienced their worst annual sales performance since records began, figures from the British Retail Consortium (BRC) show.

January 2021 – Insider Newsletter

A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed.

HMRC is reminding taxpayers that the deadline to submit 2019/20 personal tax returns through self-assessment is on or before midnight on 31 January 2021.

One of the key factors that determine the tax on a business’s right to occupy commercial property in England has been frozen for 2021/22, the Chancellor has confirmed.

Employers of low-paid workers in the UK will have to absorb another rise to the national living wage and pay it to over-23s from April 2021, the Chancellor has confirmed.

Insider 2020

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