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Budget 2021: 6 key announcements for innovative businesses
Last week, Chancellor Rishi Sunak set out the government plans for taxation and spending over the next year with his annual budget. We’ve rounded up everything innovative businesses need to know about the plans designed to help them build back better from the pandemic.
VAT: reverse charge for building and construction
In a move designed to reduce fraud, HMRC have implemented new VAT legislation for the construction industry, effective from 1 March 2021.
No penalties for IR35 mistakes in year one
As the changes to IR35/off-payroll working edge ever nearer, further clarification on how HMRC will ensure compliance with the new rules has been shared.
Key tax changes to keep an eye on in 2021
With the budget coming out on 3rd March 2021, it is expected to be a big one. The pressure will be on Rishi Sunak to raise a lot of money to cover the costs of spending on COVID-19 support schemes. Let’s review the changes that we already know about and are expected to come in effect in 2021
Get prepared: IR35 (off-payroll working) action plan
Big changes to the way contractors and those who work with them pay tax and National Insurance are coming this April. Follow these simple steps to make sure you're prepared.
Could an online sales tax help economic recovery?
Why is the UK treasury exploring the introduction of an online sales tax, who is backing the idea and when might it come into play?
Are you ready for IR35?
The upcoming changes to off-payroll working rules (IR35) have implications for millions of contractors across the UK. Whether you're a contractor yourself or you employ contractors as part of your business, keep reading to see what these changes could mean for you.
Deadlines loom and so do the scammers
As the 31st January 2021 annual tax return deadline looms HMRC is reminding people to take extra care in ensuring communications that look like they’re from Government departments are genuine.
R&D tax credits and the PAYE cap
The government has released draft legislation for the upcoming 2021 Finance Bill which relates to the SME R&D scheme. And it's a noteworthy update, confirming that a cap of 300% of a company’s total PAYE and NIC Liability will be applied to SME scheme payable R&D credit claims. Keep reading to learn how this may affect your business’s next claim.