Mar 15, 2023 | Government Announcements
The UK avoided a technical recession in 2022 and will avoid another one in 2023, according to the Office for Budget (OBR). Lower-than-expected wholesale energy prices and falling interest rates leave an improved outlook for the economy in 2023, the Government watchdog...
Mar 15, 2023 | Business TaxGovernment Announcements
In today's Spring Budget speech, Chancellor Jeremy Hunt announced a new "full expensing policy" to encourage business investment. From April 2023 to March 2026, companies can claim 100% capital allowances on qualifying plant and machinery, writing off the cost of...
Mar 15, 2023 | Government AnnouncementsPersonal Tax
The pension lifetime allowance, which limits the amount savers can contribute to their pensions without a tax charge, will be abolished, Chancellor Jeremy Hunt announced in today's Spring Budget. Currently, people who save more than the current allowance level of...
Mar 15, 2023 | Government Announcements
Chancellor Jeremy Hunt will unveil his Spring Budget for the 2023/24 tax year later this afternoon (15 March). According to Hunt, the Budget will set out the next stage in the Government's plan to halve inflation, reduce debt and grow the economy. The economic outlook...
Mar 10, 2023 | Government AnnouncementsPersonal Tax
HMRC has issued guidance clarifying IR35 rules for intermediaries and contractors providing services to small clients. IR35 rules, or off-payroll working rules, ensure that freelancers and contractors pay the same amount of income tax and National Insurance...
