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Budget 2021

In the year since the Chancellor, Rishi Sunak, delivered his first Budget to a packed Commons chamber in March 2020, more than 135,000 people in the UK have died from Coronavirus, there have been three national lockdowns, the economy has shrunk by 9.9 per cent and Coronavirus support measures have cost around £280 billion.
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Vaccine rollout prompts SME optimism about prospects for 2021

New research has found that SMEs across the UK are feeling increasingly optimistic about their prospects for the rest of 2021, after the success of the vaccine rollout. The Barclaycard Payments Barometer research found that SMEs expect to grow their…

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Business rates review report delayed

The Government has announced that the final report of its fundamental review of business rates will be delayed and will be published in the autumn. It says that by then there should be greater clarity about the economic situation and…

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National Living Wage and National Minimum Wage rates to increase from 1 April

The Government is pressing ahead with plans to increase the rates of the National Living Wage (NLW) and the National Minimum Wage (NMW) from 1 April 2021, while people aged 23 and 24 will be entitled to the National Living…

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Almost two-fifths of small businesses are looking to trade overseas

Despite the impact that Brexit has had on trade in the UK, a new survey conducted by YouGov has found that 38 per cent of small businesses are likely to trade overseas this year. The study, commissioned by Lawbite, found…

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HMRC updates tax rules and calculations on ultra-low emission vehicles

HM Revenue & Customs (HMRC) has released new guidance that brings changes to the company car benefit calculations, as the Government looks to encourage greater use of ultra-low emission vehicles (ULEV). Under the new rules, if a ULEV has a…

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Student loan thresholds to rise from 6 April 2021

At the start of the new tax year in April the thresholds for student loans will increase, which may affect employees that are repaying their academic fees. The threshold for student loan Plan 1 will increase from £19,390 to £19,895…

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Dates for your Payroll Diary…

Coronavirus Job Retention Scheme – claim submission dates: February claims must be submitted no later than Monday, 15 March 2021 1 March VAT registered construction businesses should note that this reverse charge measure is coming in on 1 March 2021.…

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HRMC issues their latest employer bulletin

The latest version of the Employer Bulletin has now been released by HMRC. This edition has articles including: Coronavirus Job Retention Scheme End of tax year reporting and actions which you need to complete VAT reverse charges and changes to…

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Do you know how to calculate redundancy pay accurately? – We can help

Redundancy may be a growing consideration for many businesses during this difficult period, especially as the Coronavirus Job Retention Scheme (CJRS) draws nearer to closing at the end of April 2021. Once you have conducted the necessary consultations and agreed…

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