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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
Duties – stamp duty surcharge for non-UK residents
Stamp duty land tax surcharge on non-UK residents With effect from 1 April 2021, a 2% stamp duty land tax surcharge will apply to non-UK residents purchasing residential property in England and Northern Ireland. Stamp duty and stamp duty reserve tax On...Spring Budget 2020: Personal
The key personal announcements revealed in the Chancellor’s speech on 11 March 2020.Spring Budget 2020: Business
The key business announcements revealed on 11 March.Spring Budget 2020: Reactions
What the key industry groups have to say about the Chancellor’s Budget speech.Spring Budget 2020: Expectations
Three changes in the Chancellor’s pipeline.1.6 million face retirement with no private pension
Government statistics reveal shortfall.Other announcements – plastic packaging tax
Plastic packaging tax A new plastic packaging tax will take effect from 1 April 2022 at a rate of £200 per tonne. This will apply to plastic packaging produced in, or imported into, the UK that does not contain at least 30% recycled plastic. The ...VAT – construction industry reverse charge reminder
Abolition of the ‘tampon tax' The first headline for VAT in the Chancellor's speech came when Sunak announced that the UK leaving the EU presents an opportunity to introduce legislation applying the zero-rate of VAT to women's sanitary products. VAT is...Personal – pensions tapered annual allowance
Rates and allowances The tax-free personal allowance will remain at £12,500 for the 2020/21 tax year throughout the UK. The basic-rate band in England, Northern Ireland and Wales will stay at £37,500 and consequently, the higher-rate threshold will con...Tapered allowance threshold set to rise
High earners poised for pensions boost.
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