business taxation Archives - Page 34 of 80 - Whitefield Tax - Isle of Wight Accountants

Employment Allowance set to continue

by Jessica Garbett | Mar 5, 2021 | ACCA, business taxation

Businesses will not to have to pay employer’s NIC on the first £4,000, so take care when you claim! Organisations will continue to not have to pay employer national insurance contributions (NIC) on the first £4,000 of their annual bill. It had already been announced...

Easement continues for employer-provided bike tax exemption

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation

Cycle to Work scheme’s qualifying journeys condition for employees will not be reintroduced until 2022 The tax exemption offered by the Cycle to Work scheme, for the employer provision of cycles and cyclist safety equipment, will continue to apply to employees who...

Home office income tax and NIC exemption extended

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation, personal taxatation

Employers will not be required to report reimbursed expenses when employees need to buy equipment In light of the continuing impact of the Covid-19 outbreak, the temporary income tax and national insurance contributions (NIC) exemption for home-office expenses has...

ACCA – Budget Income tax roundup

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation, personal taxatation

Here’s our guide to the changes for 2021, including a personal allowance freeze and Covid-related exemptions Income tax rates remain unchanged but personal allowance will be frozen for five years Personal allowance will rise to £12,570 from April 2021. It will...

Capital allowances and other new reliefs

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation

AIA has already been extended to 31 December 2021. Enhanced super-deduction reliefs now available for certain investments. Annual Investment Allowance As previously announced last Autumn businesses, including manufacturing firms, can continue to claim up to £1m in...

Investor tax incentives

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation

Extended tax incentives for social investment initiatives Of the four main venture capital schemes (EIS, SEIS, VCT, SITR) the 2021 Budget introduced a small change only to the Social Investment Tax Relief (SITR) which provides income and capital gains tax hold-over...

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Employment Allowance set to continue

Easement continues for employer-provided bike tax exemption

Home office income tax and NIC exemption extended

ACCA – Budget Income tax roundup

Capital allowances and other new reliefs

Investor tax incentives

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