Mini budget 2022: the chancellor unveils plan for growth
From income tax to stamp duty and national insurance, Kwasi Kwarteng’s first announcement as chancellor proved to be far from the ‘mini’ budget that had been expected. Clayton & Brewill provides an overview of the mini budget 2022 and what it means for businesses. Having only been chancellor for a matter of days, Kwasi Kwarteng… View Article
Fall in real pay explained
Despite robust pay growth and a buoyant jobs market in the UK, the Office for National Statistics (ONS) reports that the real value of workers’ pay dropped by 3% in the three months to June, after taking inflation into account – the fastest decline since comparable records began in 2001. While there is a growing number… View Article
Trust Registration – act now for 1 September deadline
UK express trusts, and some non-UK trusts in existence on or after 6 October 2020, must be registered with the UK Trust Registration Service (TRS) by 1st September 2022. The Trust Registration Service (TRS) is an online register of the beneficial ownership of trusts. It was set up in 2017 as part of an EU… View Article
What landlords need to know about Making Tax Digital
Making Tax Digital (MTD) has already impacted VAT, with income tax and corporation tax due to follow in the coming years. There are significant implications for those who pay income tax via self assessment (ITSA), including landlords with taxable income of more than £10,000 a year. In this article, Clayton & Brewill highlights what landlords… View Article
Employer obligations in 2022: an update
In our latest employer update, Nottingham chartered accountants Clayton & Brewill guides you through the latest issues in tax, payroll and employment law. Stay compliant on minimum wage New minimum wage rates apply from 1 April 2022: Hourly rate from 1 April 2022 National Living Wage (age 23 and over) £9.50 21-22 year old rate… View Article
Spring update 2022: off-payroll working rules, fraud in Covid support schemes and MTD for income tax
The Clayton & Brewill Spring update 2022 is now available to view online. As the bank holiday weekend approaches, we’d like to wish all our clients a very Happy Easter from the team at Clayton & Brewill. Our Spring update contains advice and articles for both business owners and individuals, including: What employers need to consider… View Article
Spring Statement 2022: key announcements
Clayton & Brewill provides a summary of the key announcements from the Spring Statement 2022, including cuts to fuel duty and income tax, and an increase to the Employment Allowance to help small employers with national insurance costs. As always, please do contact us if you would like to discuss in detail the impact of any of these… View Article
Year end tax planning tips
Each year, as the 5 April approaches and the end of the financial tax year draws to an end, it’s important that you ensure your finances are as tax efficient as possible. Nottingham chartered accountants Clayton & Brewill provides some year end tax planning tips. Income tax – do you need to reorganise your income… View Article
Error and fraud in Covid-19 support schemes: HMRC’s approach
From the beginning, it was clear that Covid-19 support schemes would be targets for fraud and that customers would make mistakes. In our latest article, Nottingham chartered accountants Clayton & Brewill highlights HRMC’s latest approach to tackling error and fraud in Covid-19 support scheme claims. Taxpayer Protection Taskforce Given estimates suggesting £5.8 billion lost to… View Article
Autumn update 2021: salary sacrifice, HMRC’s changing approach and MTD developments
The Clayton & Brewill Autumn update 2021 is now available to view online. It’s hard to believe that the year is coming to a close, but as we begin the countdown to Christmas, the Clayton & Brewill team remains committed to supporting all of our clients at this busy time. Our Autumn update contains advice… View Article