KRW Tax news

Tax relief for losses extended to allow 3 year carry back

KRW Tax newsMarch 3, 2021|In KRW Tax news|By dinc_adminIn a bid to help businesses adversely affected by COVID, the usual rules that allow a business to carry back losses for one year have been…


VAT, capital gains tax, pensions & inheritance tax thresholds also frozen

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith WitchellAlongside the freezing of the tax-free personal allowance and higher rate tax thresholds, the Chancellor also announced that the VAT…


Stamp duty land tax cut extended

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith WitchellThe current £500,000 threshold for Stamp Duty on residential properties that was due to end on 31 March 2021 has been extended to 30 June…


VAT cut for hospitality & leisure sectors extended

KRW Tax newsMarch 3, 2021|In KRW Tax news|By dinc_adminThe current much needed VAT cut to 5% for the hospitality and leisure sectors was due to end on 31 March 2021, but the Chancellor announced…


Super-deduction for companies investing their reserves for 2 years

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith WitchellRishi Sunak announced that from April 2021 until March 2023 a super-deduction will be offered to any companies that invest in new equipment,…


Furlough scheme extended until 30 september 2021

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith Witchell In better news, the Coronavirus Job Retention Scheme has been extended to 30 September 2021, although businesses will need to contribute…


Personal allowance and higher rate tax threshold frozen for 5 years

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith WitchellThe Chancellor also announced that the new personal allowance of £12,570 which arrives in April 2021 will be frozen for 5 years until 2026.…


Corporation tax rise to 25% from april 2023

KRW Tax newsMarch 3, 2021|In KRW Tax news|By Keith WitchellLet’s start with the worst news first. In a bid to rebalance the books post COVID, Rishi Sunak announced a rise in the Corporation Tax rate…


Self-employment income support scheme goes live on 13 May 2020

KRW Tax newsMay 24, 2020|In KRW Tax news|By Keith WitchellThe Coronavirus Self-Employment Income Support Scheme was announced back in March, and gives the self-employed a grant of up to £7,500 if…


HMRC release draft guidance on Structures & Buildings Allowance (SBA)

KRW Tax newsJuly 22, 2019|In KRW Tax news|By Keith WitchellIn last year’s Budget, the Chancellor announced the introduction of a new capital allowance for new commercial structures and buildings,…