by EKWilliams Team | Apr 10, 2022 | Latest, Tax
Money-saving expert and journalist Martin Lewis has warned the British public that they should check their tax code is correct or risk losing a significant amount of money. Due to the rise of NIC, employers are seeing an increase in the amount of what they pay in...
by EKWilliams Team | Apr 6, 2022 | Latest, Tax
Back in 2021, Chancellor Sunak announced in his budget that income tax personal allowance and the higher rate threshold would remain frozen for four years – from 2022/23 until 2025/26. As previously announced, the Income-tax increased to £12,570 for 2021/22...
by EKWilliams Team | Apr 5, 2022 | Latest
On Wednesday, 23rd of March 2022, Chancellor Sunak confirmed to the treasury committee that the pension triple lock will apply until 2023/24. This will see an increase of approximately 7.4% based on the expected Consumer Price Index (CPI) level for this September. In...
by EKWilliams Team | Apr 1, 2022 | Latest
HMRC have confirmed that the new rates for child benefits are set to increase at the start of April 2022. HMRC have announced their new Child Benefits rate, which, starting April 2022, will have risen. Child benefits are eligible for parents who are bringing up a...
by EKWilliams Team | Mar 31, 2022 | Latest, Tax
From the 1st of April, hospitality tax VAT returns to its standard rate – of 20% Since July 2020, hospitality tax was decreased to 12.5% to recover from the impact of the Covid-19 pandemic. This gave businesses the chance to become financially stable after the...
by EKWilliams Team | Mar 30, 2022 | Latest, Tax
The budget laid out by Chancellor Sunak offers small businesses the chance to reduce their energy bills and receive financial support. Regarding business tax, here is the allocation for the Spring Budget on business tax: Making Tax Digital (MTD): April 2022 will see...
