Further tweaks to the apprenticeship levy look certain to be made in the autumn, when new chancellor Savid Javid is expected to deliver his first Budget. In his final Budget speech in October 2018, former chancellor Philip Hammond halved the amount small firms taking on apprentices had to pay from 10% to 5%. But Javid… Continue reading Javid ‘to broaden the apprenticeship levy into a wider skills levy’
Month: September 2019
Retailers unite in call for business rates solution
Some of the UK’s biggest retailers have come together to demand action is taken to revamp the business rates system. Business leaders from more than 50 companies wrote to chancellor Sajid Javid to ask for four changes. These include reforming transitional relief, which limits how much a bill can change following revalution. The letter also… Continue reading Retailers unite in call for business rates solution
Treasury to review tapered annual allowance as dispute rumbles on
The Treasury has announced it will review the tapered annual allowance for pensions, following calls to abolish it. The amount of pension contributions that can be made tax-free in 2019/20 stands at £40,000 in most cases, but this is restricted for higher earners by the tapered annual allowance. The taper applies to people with a… Continue reading Treasury to review tapered annual allowance as dispute rumbles on
Update to post of 2nd August – Reverse charge VAT for builders delayed for 12 months
A major change to the way VAT is collected in the building and construction industry has been delayed until 1 October 2020. The domestic reverse charge VAT for construction services was due to take effect from 1 October 2019. It will put the onus on the customer receiving a service to pay the VAT element… Continue reading Update to post of 2nd August – Reverse charge VAT for builders delayed for 12 months
