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Monthly Tax News – Budget 2020

THE KEY POINTS FROM BUDGET 2020 MORE MONEY FOR THE NHS AND INFRA-STRUCTURE IN THE BUDGET Rishi Sunak received a “hospital pass” when he was appointed Chancellor and was required to deliver the first Budget in nearly 18 months within a month of his appointment. He announced extra spending on roads, rail, broadband and other […]

Monthly Tax News – January 2020

Monthly Tax News – January 2020 CONSERVATIVE PARTY ELECTED WITH WORKING MAJORITY Now that Boris Johnson and his Conservative party have won the General Election will we finally “Get Brexit Done”? More importantly, can the Government now get on with running the country and sorting out urgent issues such as the NHS? We are still […]

Monthly Tax News – February 2020

Monthly Tax News – February 2020 BUDGET DAY IS NOW 11 MARCH The December General Election meant that the Autumn Budget was delayed and we now know that Sajid Javed will deliver his first Budget on the second Wednesday in March which is when Budget day used to be! We are expecting that the tax […]

Monthly Tax News – March 2020

Monthly Tax News – March 2020 YET ANOTHER CHANCELLOR – BIG CHANGES IN THE BUDGET? It will be nearly 18 months since the last Budget and in the meantime we will have had three different chancellors following the unexpected resignation of Sajid Javid. The early years of a new Parliament are a good time to […]

Monthly Tax News – June 2019

Monthly Tax News – June 2019 DOCTORS LOBBYING FOR PENSION TAX CHANGES Hospital doctors and GPs are lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they take on additional […]

Monthly Tax News – July 2019

Monthly Tax News – July 2019 A STAFF SUMMER PARTY CAN BE A TAX-FREE BENEFIT Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit if certain conditions are satisfied. The exemption applies to an annual […]

Monthly Tax News – August 2019

Monthly Tax News – August 2019 OFF-PAYROLL WORKING RULES GOING AHEAD The draft Finance Bill clauses issued for consultation on 11 July include legislation to extend the “off-payroll” working rules to the private sector from 6 April 2020. These changes will have significant implications for workers providing their services through personal service companies and also […]

Monthly Tax News – September 2019

Monthly Tax News – September 2019 GOVERNMENT U-TURN ON PENSION TAX FOR DOCTORS AND OTHERS? In earlier newsletters we reported that hospital doctors and GPs were lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra […]

Monthly Tax News – October 2019

Monthly Tax News – October 2019 BUILDERS’ VAT RULES DELAYED FOR A YEAR The government have decided to delay the start of the proposed VAT reverse charge for supplies by sub-contractors in the construction sector. The reason for the U-turn is the lack of awareness of the change that was originally due to start on […]

Monthly Tax News – November 2019

Monthly Tax News – November 2019 WHEN WILL BUDGET DAY BE NOW? It was announced on 14 October that Sajid Javed’s first budget would be on 6 November but with a general election in December when will it be now? The current political uncertainty makes it difficult to give clear tax advice as a number […]

© 2019 Pennington Williams - Chartered Accountants
© 2018 Pennington Williams - Chartered Accountants