Govt. to pay 80% of self-employed income

Self-employed workers who are affected by COVID-19 can apply for a grant to cover 80% of their average monthly profits over the last three years. Chancellor Rishi Sunak confirmed the taxable grants are worth up to a maximum of £2,500 a month and will be paid in a...

COVID-19 postpones off-payroll extension to the private sector

The Government has delayed extending the controversial off-payroll working rules to the private sector, as the UK fights to contain the coronavirus pandemic. Hot on the heels of announcing a £350 billion support package for struggling businesses, the Treasury pulled...

Govt. provides £330bn lifeline to businesses

The Government has pledged £330 billion-worth of state-backed loans to support businesses feeling the effects of the coronavirus epidemic. To put that unprecedented figure into context, it represents around 15% of the value of the entire UK economy. The financial...

Economy stagnant in early 2020

UK gross domestic product (GDP) was flat in the three months to January 2020, according to data published by the Office for National Statistics (ONS) on Budget day. This represents the third successive three-month period with GDP growth at 0.0 per cent. Although there...

Spring Budget 2020: Personal

Tapered annual allowance threshold raised In 2020/21, the two thresholds at which the tapered annual allowance applies will both increase by £90,000. This applies to individuals with a threshold income of more than £200,000 and an adjusted income above £240,000. For...