Autumn Statement 2023

Autumn Statement 2023

With a General Election looming on the horizon, Jeremy Hunt rose to deliver his second Autumn Statement as Chancellor in the knowledge that his latest measures could have a substantial impact, not only on the future economic success of the nation but the electoral success of his own party. Taking away the politics from his [...] Read more

Spring Budget 2023

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected by the immediate impact of the pandemic since October 2018. Of course, in that time, we [...] Read more

Autumn Statement 2022

The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House of Commons to deliver the Autumn Statement was clear; he would be outlining billions of pounds of tax rises and spending cuts. These spending cuts and tax rises, he said, would affect everybody and were [...] Read more
Sarah Squires

MGI Midgley Snelling LLP calls on businesses to take advantage of biggest tax cut in 50 years, but remain wary of future inflation

With the Chancellor confirming around £45 billion of tax cuts in his first fiscal statement, MGI Midgley Snelling LLP is calling on businesses to go for growth using the tax savings on offer. “A new approach, for a new era, focused on growth” was how Kwasi Kwarteng described his measures as his speech to Parliament […]

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Fiscal Statement

Fiscal Statement

With a new King at the Palace and a new Prime Minister at Number 10, it was no surprise that the new Chancellor at Number 11 used his first statement to the House of Commons to signal a “new era” for fiscal policy. It turned out to be a striking change of direction, as the [...] Read more

Your Landlord clients need to prepare for the switch to Making Tax Digital

Landlords need to prepare for HM Revenue & Customs’ (HMRC) new Making Tax Digital (MTD) for Income Tax regulations. As part of the Government’s attempts to modernise the tax system, landlords and self-employed people will be required to submit their tax information via MTD-compatible software from 6 April 2023. In addition to the annual submission, […]

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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. Corrections may be necessitated if: The grant amount was omitted; The amount received appears in […]

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Super-deduction gives businesses confidence to grow

As the UK economy gets back to full speed and confidence grows amongst small businesses, the impact of the ‘super-deduction’ and the ‘special rate allowance (SRA)’ should encourage even stronger growth. The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest, ensuring the UK capital allowances […]

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