KRW Tax news

30 day limit to report & pay CGT on residential property now 60 days

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellAnyone selling a residential property since April 2020 has had to report and pay their Capital Gains Tax to HMRC within 30 days of the…


Company car tax rates frozen from 2022 to 2025

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellBuried in the Budget documents was some welcome confirmation that company car tax rates and bands will be frozen from 2022 through to…


Recovery loan scheme extended to June 2022

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellThe Budget documents confirm that the Recovery Loan Scheme to help businesses get back on their feet following the pandemic, will be…


50% business rates relief for retail, hospitality & leisure from April 2022

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellA new temporary 50% business rates discount was announced for these sectors, in a bid to help their recovery after the pandemic, which…


R&D tax reliefs to be reformed from April 2023

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellFollowing the consultation launched at the Spring 2021 Budget, the Chancellor confirmed that R&D tax reliefs will be reformed from…


Annual investment allowance to remain at £1m until April 2023

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellThe Chancellor confirmed that the current £1 million Annual Investment Allowance, which provides tax relief on the full cost of…


1.25% dividend tax rise from April 2022

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellThis measure was also announced last month (see previous Tax Bulletin), alongside the NIC increase, in a bid to bring parity for limited…


1.25% national insurance rise from April 2022

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellThe Budget documents confirm Rishi’s announcement last month that NIC will increase by 1.25% for both employees and employers from April…


Universal credit withdrawal taper rate reduced from 63% to 55%

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellIn a bid to encourage those on lower incomes to work more without such a significant drop in their universal credit, the Chancellor…


National living wage increased to £9.50 per hour from April 2022

KRW Tax newsOctober 27, 2021|In KRW Tax news|By Keith WitchellAs already released to the media ahead of the Budget Speech, Rishi Sunak confirmed that the National Living Wage for employees aged 23…