Stewart Associates (Shrewsbury) Ltd
Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.

Telephone: 01743 235236   Email: enquiry@saltd.co.uk

Click here to subscribe to our newsletter

11 March 2020

Budget Speech 2020 - 11th March

Well most of the speech concerned non-tax matters particularly short-term measures regarding The Virus and public expenditure which in the main are not issues for this note.
The only taxation matters I noticed being mentioned in the speech (taking Alcohol duties as non-tax) are:-

  • Entrepreneurs Relief - although the tax has not been scrapped it is reduced to £1 million of gain per individual (£2 million for a couple).
  • Corporation Tax - rate remaining at 19%
  • Tax avoidance - more resources for HMRC.
  • NI - employee/self-employed starting rate increased from £8,632 to £9,500
  • NI employment allowance increased from £3,000 to £4,000
  • Pension contribution tapering rules relaxed

 

Contact Us

    01743 235236




    News Items

      8/4/2022

      Tax Efficient Salaries 22/23

      You may well have noticed in the national news the starting rate at which employee NI is payable has...  Read more >>


      26/10/2021

      Directors personally liable for company debts to HMRC

      Schedule 13 to Finance Act 2020 enables HMRC to issue a notice to a company in liquidation (or in da...  Read more >>


      1/9/2021

      Self-employed COVID Grants and the 2021 Tax Return

      The 2021 Tax Return contains a section to enter any Incorrectly Claimed Grants Therefore we are o...  Read more >>


      26/8/2021

      Rates relief and HMRC enquiries

      HMRC enquiries A little while ago an external enquiry specialist mentioned an increase in the num...  Read more >>


      2/3/2021

      Construction Industry VAT Reverse Charge

      If this applies a contractor will need to notify its subcontractors. This flowchart will help you...  Read more >>


      All News Items

      © 2022 Stewart Associates (Shrewsbury) Ltd. All rights reserved.       Terms & Conditions | Privacy Policy | Site Map   Website created by Datacraft