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Increase in working tax credits

Increase in working tax credits

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from...
Emergency support for businesses hit by coronavirus

Emergency support for businesses hit by coronavirus

The Welsh Government is today announcing a package of support worth more than £200m for small businesses to help them during the coronavirus outbreak. Retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rate...
Spring Budget 2020

Spring Budget 2020

The Chancellor, Rishi Sunak, has delivered his first Budget. Here are the 2020 tax rates & proposed changes at a glance. Personal Taxation – 2020/21 National Insurance contributions The threshold for class 1 primary contributions paid by employees and the...
What are the tax implications of company cars?

What are the tax implications of company cars?

Source: SDVH [Self Drive Vehicle Hire] – UK Car, Van, Minibus & Truck Offering a company car as a benefit can be a valuable and attractive perk to any valued employee. Unfortunately, it is not necessarily a tax-free perk and it may be liable for PAYE because...