Chancellor Rishi Sunak has promised that penalties for IR35 breaches will not be ‘heavy handed’ during the first year of the implementation of off-payroll rules to the private sector. Mr Sunak told business leaders in Birmingham that there will be a soft-landing penalty period. Whereby HMRC will allow organisations to adjust to new measures. From […]

The government has pledged thousands of pounds in additional financial support for flooding victims of the recent events. Businesses in England affected by the floods will be eligible for 100% business rates relief for at least three months, the government announced. It also stated that small and medium-sized enterprises (SMEs) that have experienced severe, uninsurable […]

The UK will become a cashless society with the next 15 years unless the government takes action, according to the Access to Cash Review. The Review, which published its final report a year ago. Has said action is needed to protect cash for as long as people need it. However, 12 months on issues with […]

Rishi Sunak has been appointed as Chancellor of the Exchequer following the surprise resignation of Sajid Javid on 13 February. Former Home Secretary Sajid Javid was appointed Chancellor by Boris Johnson when he became Prime Minister in July. The resignation comes in the wake of rumours of tensions between Mr Javid and the Prime Minister’s […]

The Confederation of British Industry (CBI) has published its wishlist ahead of the 2020 Budget, which will be delivered on Wednesday 11 March. In its wishlist, the business group has called for the government to use the 2020 Budget to launch a comprehensive review into the UK’s business rates system. The CBI also urged the […]

HMRC has announced that changes to the off-payroll rules will only apply to payments made for services provided on or after 6 April 2020. The announcement comes ahead of the publication of the government’s review into the expansion of the off-payroll rules into the private sector. In 2017, HMRC introduced new off-payroll rules to the public […]

The Chancellor of the Exchequer, Sajid Javid, has raised the threshold at which taxpayers start to pay national insurance contributions (NICs) to £9,500 a year. The change will apply for the 2020/21 tax year beginning this April. Moving the government closer to its target of a £12,500 threshold for national insurance contributions. Furthermore, this would […]

HMRC has now published draft secondary legislation for the off-payroll working rules. These are due to come into force in April this year. In 2017, HMRC introduced new off-payroll rules to the public sector, which saw some contractors’ net income cut significantly. HMRC also shifted the responsibility for compliance from individual contractors to public bodies […]

The government has vowed to undertake a revamp of the current student loans repayment system. Furthermore, from April 2020, the payment threshold will increase. Graduates will therefore, only be required to start paying back their loan if they earn over £26,575 per year. In a move designed to modernise the system, the government intends to […]

The government has launched a review into the new off-payroll working rules, known as IR35. That are due to come into effect on 6 April 2020. The review, which was promised by Chancellor Sajid Javid in the run up to last year?s General Election, was officially launched on 7 January. It will gather information from […]