Mar 24 2022 Spring Statement 2022 – Smoke and Mirrors? Categories: Taxation Chancellor, Rishi Sunak, delivered his Spring Statement on 23 March and it had almost crept under the radar given other global events. His statement was timed against a backdrop of the deepest cost of living crisis for many a year. For businesses there were some apparent giveaways relating to the higher Employment Allowance, an extension more
Mar 17 2022 National Living Wage to rise from 1 April 2022 Categories: EQ AccountingPayroll From 1 April 2022, the National Living Wage (NLW) will increase by more than 50p an hour to £9.50 for all those aged 23 and over. The National Minimum Wage (NMW), which applies to workers above school leaving age but under 23, and the apprentice rate will also increase. The NLW and NMW rates will increase as more
Mar 16 2022 The benefit of Gift Aid to the taxpayer Categories: CharitiesTaxation Much is made of the benefit of Gift Aid donations to charities, but many taxpayers are missing out on the benefits to them from making these donations. For example, for every 80p donated to charity under the Gift Aid scheme, the Government give 20p tax to the charity – the equivalent of basic rate tax more
Feb 23 2022 Are you ready for Making Tax Digital? Categories: Taxation With just over a month until Making Tax Digital (MTD) becomes mandatory for all VAT registered businesses, are you MTD ready? The days of logging into the HMRC website and typing in the nine numbers are almost gone. MTD means you have to keep digital records and file your VAT returns electronically using compatible software. more
Feb 22 2022 The Health and Social Care Levy Categories: Taxation In September 2021, the UK Government announced the introduction of a new Health and Social Care Levy (HSCL) to increase funds for the National Health Service. The levy will affect employers, employees and the self-employed from 6 April 2022. In the first year the levy will be collected by a temporary increase to the rates more
Jan 13 2022 Coronavirus Statutory Sick Pay Rebate Scheme to be reintroduced Categories: EQ Accounting Update: The Statutory Sick Pay Rebate Scheme closes for COVID-19 related absences after 17 March 2022. Employers have up to and including 24 March 2022 to submit any final claims and/or amend claims they’ve already submitted. On 21 December 2021, the UK Government announced that it would temporarily reintroduce the Coronavirus Statutory Sick Pay Rebate Scheme more
Jan 4 2022 A warm welcome to our new Senior Audit Manager Categories: Audit & ReportingEQ NewsPeople We are delighted to welcome Greg Stapley as a Senior Audit Manager in our Glenrothes office. Greg joined EQ on Monday 3 January, having previously worked at AAB in Edinburgh as an Audit Senior Manager. Originally from Kent where he qualified with ICAEW in 2004, he is now based in Dunfermline with his wife, two more
Dec 9 2021 Main announcements from the Scottish Budget 2022-23 Categories: Taxation Finance Secretary, Kate Forbes, delivered the Scottish Budget for 2022/23 to the Scottish Parliament on 9 December 2021. The main areas prioritised in this Scottish Budget were business recovery, the transition to “net zero” carbon emissions and tackling child poverty, with the doubling of the Scottish child payment having already been announced. We’ve highlighted the more