The director of a Manchester pizza takeaway who fraudulently claimed a £20,000 bounce back loan has been jailed for two years. Abdulrazag Zagroba, 54, from Manchester, appeared at Manchester Crown Court on Friday 24 June 2022 where he was sentenced to 24 months before Recorder Hudson. This was the first successful criminal prosecution of a bounce bank loan fraudster for the I ...

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take place on 23 March 2022. The CBI has set out a range of policies it says are aimed at sparking growth via business investment. These include a permanent investment incentive to replace the sup ...

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: reporting PAYE information in real time when payments are made early at Christmas preventing and correcting payroll errors Health and Social Care - National Insurance contribution increase UK-Swiss Convention on Social Security Coordination ...

HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October. On 7 September the Chancellor launched Spending Review 2021, which will conclude on 27 October and will be presented alongside the Autumn Budget. The Spending Review will outline government departments' resource and capital budgets from 2022/23 to 2024/25. The Sp ...

UK workers could get more choice over when and where they work under new proposals to make the right to request flexible working a day one entitlement. The government will also introduce a day one right to one week's unpaid leave for carers balancing a job with caring responsibilities. The government says the plans will make for more productive businesses, whilst accommodating ...

The launch of a social care levy from 2022 will see all taxpayers facing a 1.25% tax charge under government plans, while dividend tax will also rise. There are warnings that the increase in National Insurance contributions for businesses could discourage the creation of new jobs and potentially put some at risk, while the individual tax burden is at its highest for decades U ...

The government has confirmed that the state pension will rise by 2.5% from April 2022, breaking the pension lock as a result of the impact from the pandemic. The minister, told MPs that this would be a one-year intervention and that the normal increase in line with average earnings increase would be reinstated from the 2023-24 tax year. As last year, once again the state pens ...

Download PDF of Business Expenses, Benefits and Loans Employee expenses An employer may reimburse an employee for an expense tax-free if it is incurred wholly, necessarily and exclusively in the performance of their employment (s.336 ITEPA 2003).  Where an employee incurs a cost on behalf of the company, tax & National Insurance Contributions (NICs) relief is given by ...

Individuals who previously made an election to stop receiving child benefit due to the high income child benefit charge (HICBC) may wish to consider revoking the election in order to restart their claim, if they feel that their income is likely to drop in the current climate below the HICBC upper income threshold of £60,000. The child benefit, or a proportion thereon, may need ...

The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day. The announcements, which would traditionally be published at Budget, have been released later to allow for scrutiny from stakeholders. It was announced that HMRC will tighten rules to force holiday let landlords to prove they have made a realistic effort to rent propertie ...