HLAS

Another of Liz Truss’ flagship policies was to halt the planned rise in corporation tax rates from 1 April 2023. These increases will now go ahead. From 1 April 2023, corporation tax will increase to 25% where a company’s profits exceed £250,000 a year. The current 19% rate will however continue to apply where profits are no more than £50,000 a year. Where a company’s profits fall between £50,000 and £250,000 a year, an effective rate of 26.5% applies to profits in excess of £50,000. Some companies that are connected or in the same corporate group must share these size [...]

The legislation to abolish the 1.25 percentage point increase in the rate of National Insurance Contributions (NICs) paid by workers, employers and the self-employed was already in progress when the U-turns were being made. The reduction therefore continues to go ahead and the rate of NICs on salary payments made on or after 6 November 2022 reduces to 12% for employees on earnings between £1,048 and £4,189 a month and 2% on earnings thereafter. Employer contributions will reduce to 13.8% on earnings in excess of £758 per month from 6 November 2022. As NICs for company directors and the self-employed [...]

In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts promised by Liz Truss in her Conservative Party leader campaign. However, the tax cuts were broader than expected and were being funded by increased borrowing. Furthermore, the plan was not accompanied by a report from the Office of Budget Responsibility (OBR), who normally scrutinise the Governments fiscal plans. The combined effect of this spooked the financial markets resulting in U-turns, a change in Chancellor, and then, on 17 October 2022, a reversal of nearly all of the earlier [...]

This interactive, free all-day event will take place virtually and is part of the Health and Safety Executive’s (HSE) approach to inspire and promote better prevention, management and control of the common risks and causes of work-related ill-health across Great Britain. Building on the success of last year’s conference, which saw huge demand, HSE has increased the capacity five-fold to provide 5,000 spaces for delegates. Discussions will cover topics including work-related stress and mental health, occupational health, musculoskeletal disorders, controlling radiation in the workplace and occupational lung disease. Delegates at the event will see how health and work are evolving [...]

UK registered businesses and local authorities can apply for a share of up to £2 million to develop detailed local plans for innovative approaches to unlock non-technical systemic barriers to the delivery of net zero targets. The aim of this competition is to support up to 30 places to develop a plan, with local authorities, to accelerate their transition to net zero. You must consider the whole net zero system in your area, including: Power Heat Mobility Product manufacture and usage This competition is open to collaborations only and closes on 30 November 2022. See: Competition overview - Net zero [...]

Royal Mail has released the latest posting dates for Christmas. They say to allow plenty of time for posting and post items and gifts for Christmas early, particularly for international deliveries: Friday 16 December 2022 – Royal Mail Bulk Mail Economy Monday 19 December 2022 – 2nd Class, 2nd Class Signed For, Royal Mail 48® Wednesday 21 December 2022 – 1st Class, 1st Class Signed For, Royal Mail 24®, Royal Mail Tracked 48®** Thursday 22 December 2022 – Special Delivery Guaranteed® Royal Mail Tracked 24®** Friday 23 December 2022 – Special Delivery Guaranteed® with Saturday Guarantee ** Royal Mail Tracked [...]

Trustees’ Week 2022 Trustees are the people in charge of a charity. They play a vital role, volunteering their time and working together to make important decisions about the charity’s work. Trustees’ Week is an annual event to showcase the great work that trustees do and highlight opportunities for people from all walks of life to get involved and make a difference. This year Trustees week takes place from 7 November to 11 November 2022. Events all around the country will celebrate the achievements of trustees, as well as highlight opportunities for you to get involved with a local charity [...]

Calling at 23 different towns and cities across the UK, the special ten-year anniversary tour will mark the official countdown to Small Business Saturday on 3 December 2022. ‘The Tour’ kicked off in Glasgow on Monday 31 October 2022 and will travel across the UK for five weeks, spotlighting Britain’s amazing small businesses. And to be as sustainable as possible, given the vital role small firms play in the race to net zero, the tour will be using a fleet of electric and zero-emissions vehicles. Once again, ‘The Tour’ will offer: Livestreamed interviews with business owners and local leaders on [...]

If you received a Coronavirus Job Retention Scheme (CJRS) grant or an Eat Out to Help Out payment, you will need to do both of the following: Include it as income when calculating your taxable profits in line with the relevant accounting standards. Report it separately on your Company Tax Return using the Coronavirus Job Retention Scheme and Eat Out to Help Out boxes. You should record all other taxable COVID-19 payments as income when you calculate your taxable profits. Please talk to us if you require our help in disclosing grants and other support to HMRC. See: Corporation Tax [...]

HMRC is reminding their Self-Assessment taxpayers that they must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These grants are taxable and should be declared on tax returns for the 2021 to 2022 tax year before the deadline on 31 January 2023. SEISS payments The SEISS application and payment windows during the 2021 to 2022 tax year were: SEISS Four: 22 April 2021 to 1 June 2021 SEISS Five: 29 July 2021 to 30 [...]