Craig Simpson, Tax Partner at Bates Weston looks at the growing trend towards employee Ownership and the Employee Ownership Trust in particular.
Employee Ownership Trusts
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Income Tax
Income Tax
Jeremy Hunt’s Statement 17 Oct 2022
In Jeremy Hunt’s statement yesterday, he told us which Mini-Budget measures are staying and which are not going ahead. The summary is simple. Everything goes except abolishing the Health & Social Care Levy, changes to Stamp Duty and the increased Annual Investment Allowance.
Update to Mini Budget October 2022
In an update to the mini budget, the Chancellor has cancelled his plans to abolish the higher 45% rate of Income Tax. We have update our Mini Budget Summary Report to reflect this.
Mini Budget 23 September 2022
The Chancellor has announced the Government’s growth plan and the tax measures that are included within it, in his mini budget. Here are the headlines.
Spring Statement Summary 2022
A summary of the Spring Statement 2022 and a round up of the significant measures announced in the two 2021 Budgets that may impact your finances.
The Spring Statement 23 March 2022
In his Spring Statement, Mr Sunak announced a 5p cut in fuel duty, an alignment of NI thresholds with personal tax allowance from July 2022, and promised a 1p cut in income tax, but not until April 2024.
Reporting tax on self-employed profits
Consultation document proposes moving from a current (accounting) year basis to a tax year basis for reporting tax on self-employed profits.
Plans to extend Making Tax Digital
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
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