Watson Knipe Blog

The Spring Budget was announced on 15 March 2023, we have summarised the key aspects of the budget that relate to personal tax.

Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecasted a stronger-than-expected performance from the UK economy this year with inflation continuing to fall.

This update is a summary taken from the UK Rental Market Report issued by Hometrack. It’s useful for landlords and property investors to keep an eye on trends in the rental property sector. The main challenge in the rental property market is the discrepancy between demand and supply.

One of the main challenges that small businesses face with regard to cash flow is dealing with late payments from clients. A recent study carried out by Xero found that the average time small businesses must wait for clients to pay them is currently 31 days.

During the pandemic, there were lots of grants available to businesses to support them through that difficult time. A lot of grants were funded by the EU’s European Regional Development Fund but nearly all ERDF schemes have now come to an end.

This is a summary of key points from the Zoopla UK house price index published in January 23. We think this information will be useful for landlords and property investors.

Self-Assessment tax return for the last tax year (6 April to 5 April) must be submitted if any of the following apply to you:

As a business owner, you know that you must collate all your paperwork each year to prepare your tax return. This can be a much easier process if, during the year, you have been managing your bookkeeping effectively. When businesses start, they often do this themselves.

On 19 December 2022, the UK Government announced that the first phase of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will now be mandated starting from April‌‌‌ ‌‌2026, rather than from April‌‌‌ ‌‌2024.

This is a summary of the latest UK Rental Report created by Zoopla, published on 9 December 2022. This is useful information for landlords and property investors that want to check what the latest trends are in the rental sector.

As we are getting close to Christmas, we thought we would share an update about employers’ obligations regarding social functions and parties for your employees. It’s important to note that this also applies to online or virtual parties.

The Chancellor announced several changes in the Autumn Statement that impacted Income Tax. We have summarised the key points below for income tax rates, income tax allowances and dividends.

The Autumn Statement gave updates on several areas that will be of interest to businesses, these include Corporation Tax Rates, Capital Allowances, R&D, Investment schemes for businesses, VAT and National Living Wage rates.

In the Autumn Budget 2022, there were some updates on Capital Gains Tax, Inheritance Tax, and Stamp Duty Land Tax. Below is a summary for each of these areas.

In September 2021, the government published its proposals for new investment in health and social care in England. The proposals were intended to lead to a permanent increase in spending not only in England but also by the devolved governments.

On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services.

On 25 October 2022, the Energy Prices Bill received Royal Assent and is now called the Energy Prices Act 2022. You will be aware of this because it applies to all homes in England, Scotland, and Wales to help with domestic energy costs.

We all know it’s difficult to run a business as the cost of living and inflation are increasing in the UK. We have collated some information about a few small business grants that may interest you.

If you are a VAT-registered business, then you will know that by law, you must now sign up for Making Tax Digital (MTD) and use MTD-compatible software to keep your VAT records and file your VAT returns. 

The week leading up to Chancellor Kwasi Kwarteng’s ‘Mini Budget’ may have been a short one due to the Queen’s funeral, but the new government managed to fill it with a stream of policy announcements.

This article summarises some key points found in the Zoopla UK Rental Market Report Q3 2022, published on 13 September 2022. It’s useful for landlords and property investors to keep updated with changes and trends within the rental sector.