Posted in Business
The 1,25% increase in NIC contributions from April 2022 will be mirrored by a similar increase in the tax charge on dividends. From April 2022, the dividend tax increases will apply as follows:
Basic rate taxpayers will see an increase from the
Continue readingPosted in NIC & Pensions
The Prime Minister announced increases in National Insurance Contributions (NIC) of 1.25% from April 2022, to contribute to increases in the NHS and social care budgets.
The increases will apply to:
Class 1 contributions (paid by employees). This
Continue readingPosted in Value Added Tax
The scope and legal basis of how VAT is charged on taxable supplies is defined as follows in the VAT Act 1994:
VAT shall be charged on any supply of goods or services made in the United Kingdom, where it is a taxable supply made by a taxable person
Continue readingPosted in HMRC Notices
HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and tenants in their own home, extra services to tenants and
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