Autumn Statement Summary & Tax Tables 2022/23
The Chancellor, Jeremy Hunt, was faced with a challenging economic backdrop to his first major set piece, grappling with a combination of over 11% inflation, an official recession and the…
Tax
Celebration of 140 Years and Rebrand For The Future
Simpson Wood, celebrated its 140th anniversary last night and is looking to the future with a brand-new look and feel. After being delayed for 24 months due to Covid, the…
IMF criticises government over tax plans
The International Monetary Fund (IMF) warned the UK government against ‘large and untargeted fiscal packages’ following the Mini Budget. The IMF stated that tax measures announced by Chancellor Kwasi Kwarteng in…
HMRC raises late payment interest from 11 October
HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate. This means that the late payment interest rate will increase to 4.75% from…
Government abandons plan to scrap 45p top rate of income tax
The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received. Chancellor Kwasi Kwarteng first announced the policy…
Fiscal Statement
In what was dubbed by many a ‘mini Budget’ Kwasi Kwarteng unveiled an unexpectedly wide range of measures with some surprises. Following on from the Prime Minister’s initial Energy Price…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2022. The guidance states: ‘you can use the previous rates for up to one month…
Treasury Committee warns government against ‘flying blind’ with Emergency Budget
The Treasury Committee has urged the government to provide assurance that it is not ‘flying blind’ into a potential Emergency Budget this September. In a letter sent to Chancellor Nadhim…
HMRC releases more details MTD for Income Tax
HMRC has published more details on how Making Tax Digital for Income Tax (MTD for IT) will work for buy-to-let landlords and sole traders with qualifying income over £10,000. The…
End of content
End of content
Our Terms
Follow Us
Subscribe
© 2022 Simpson Wood – Website by Paladin
