Syd Barhey

Pickpockets at the Treasury ?

When the Chancellor announced his budget measures last month, much was made of the increases in Corporation Tax and the maintenance of the headline rates of Income Tax and National Insurance. However, little was said about the freezing of the personal tax allowances and tax thresholds other than to describe it in some quarters as …

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Cash Management in a Pandemic

The phrase “Turnover is vanity, profit is sanity but cash is king” was coined for a reason. Few things are more important to any business than cash flow, as with a healthy cash flow, you can pay your debts on time, sustain your operations and expand your business. Without it, you’re only a few missteps …

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Getting Incorporated

If you are starting out in business and thinking about how you would like to set yourself up, the idea of having your own limited company probably feels quite attractive. But if you’ve never owned or run your own company before, how easy is it to set one up ? Unlike sole traders, limited companies …

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Gov’t Coronavirus Schemes to be extended beyond lockdown

The government’s coronavirus support schemes will be extended beyond the timetable for opening up the economy, to help recovery. ICAEW’s Tax Faculty highlights the main Budget announcements.The wide range of support announced includes extensions to the two major income support schemes alongside extensions of financial assistance in other areas, such as universal credit, tax credits …

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Chancellor freezes tax allowances

The income tax personal allowance and higher rate threshold will be frozen from 6 April 2022 until 5 April 2026. The capital gains tax annual exempt amount, the pensions lifetime allowance and the IHT and residence nil rate bands, meanwhile, will be frozen at their current rates. The Chancellor has confirmed a series of tax …

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The VAT Domestic Reverse Charge

The beginning of  March saw a major change in the way VAT is handled by contractors and sub-contractors in the construction industry with the introduction of the VAT domestic reverse charge (VDRC).  The VAT domestic reverse charge for building and construction services, finally came into force on 1st March 2021 (its introduction having been delayed twice, firstly …

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