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Final SEISS deadline – Submit your claim by 30th September!

If you are applying for the fifth and final grant of the Self-Employment Income Support Scheme (SEISS), you must ensure that your application and any necessary documents are with HM Revenue & Customs (HMRC) by 30th September. If you fail…

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How will the National Insurance and dividend tax increases affect me?

Taxpayers face an increase in their National Insurance contributions (NICs) and dividend tax rates from 2022. To explain how this significant change may affect you, please use our helpful FAQ below: How much is the National Insurance rate increasing? The…

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SME confidence is on the rise as employers make plans to expand their workforce

Official research has found increasing confidence amongst SME employers, with 26 per cent saying they expect to increase their employee headcounts over the coming year. The findings from the Small Business Survey, carried out by the Department for Business, Energy…

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Minimum wage non-payment excuses ‘outrageous’

The National Minimum Wage has been in place for more than two decades. It currently stands at £8.91 per hour for adults over the age of 23 (The National Living Wage), while the lowest figure is £4.30 per hour for…

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Couples could be missing out on tax breaks

Couples may be missing out on tax breaks without realising it, according to HM Revenue & Customs (HMRC). Savings can be made both with Income Tax and Capital Gains Tax (CGT) by using their personal tax allowance. For CGT, a…

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New weapons in the war on cybercrime

It is a nightmare that plagues both business and private users alike, but cyber security experts are continuing to fight back against the online crooks using email scams targeting their organisations. The UK’S cyber police force, the National Cyber Security…

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Beware of rising house prices increasing Inheritance Tax liability

While rising property values may seem like good news, as prices go through the roof it could land you with a hefty Inheritance Tax (IHT) bill. The latest data from HM Revenue & Customs (HMRC) show that the average IHT…

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Frustrated SMEs turning to unsecured loans to grow businesses

As the UK emerges from the economic crisis caused by the pandemic there are many positive indicators of financial recovery, such as a fall in COVID-induced public spending, a rise in job vacancies and a decline in unemployment, all of…

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HMRC auto-correcting 2020-21 SEISS tax returns

Where grants claimed under the self-employment income support scheme (SEISS) do not correspond with records held by HM Revenue & Customs (HMRC), it will auto-correct 2020-21 tax returns and issue a new SA302 calculation to both taxpayer and acting agent.…

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SMEs optimistic and frustrated as economy set to thrive

With predictions that the UK economy is set to grow at its fastest pace in 80 years and could recover to its pre-pandemic size by the end of this year, SME owners are feeling more optimistic and are keen to…

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