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Government back tracks on “no tax increases”
Maybe it was a dream, or I was not listening properly…..but in the March 2021 budget did the chancellor say that they would not increase tax over the course of the current parliament……….!!! Is an increase in the rate of tax on dividends not an increase in tax? The...
Trust registration update – more compliance for trustees
Being a trustee comes with additional obligations now, even if the trust is not liable to pay tax, so trustees need to ensure that they are up to date with what is expected of them. My last blog on this subject was August 2020 and since then HMRC have been developing...
Morris Owen –75 years and still going strong
On the 27 June 1946, Morris Owen opened a bank account with HMRC and started trading as an accountant under the name Morris Owen & Co, having previously been in a partnership with a Mr. Aldermen for around 14 years. 75 years later, the Partners are proud that we...
HMRC corrects tax returns for SEISS grants claimed
Have you claimed any Self-employment income support (SEISS) grants for 2020/2021? Are you sure that the figures you have entered, or intend to enter, on your tax return are correct and have been entered in the correct box on the return? HMRC have powers available to...
Pandemic highlights wider financial risks
“I read a fascinating article today based on research by Scottish Widows, which looked at the impact the Covid-19 pandemic has had on the NHS, as well as what its future impact might be. It suggests that a high proportion of people have deferred booking medical...
Corporation tax on the increase – what will it mean for you?
On the 3 March Budget this year we saw very few tax increases, perhaps unsurprising given we were still in the midst of the second wave of Covid-19. The one increase that did hit the headlines however was to Corporation Tax, with an increase from 19% to 25% from 1...
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