If you run a pub, hotel or restaurant etc., don’t forget that the reduced rate of VAT goes up to 12.5% on 1 October. There may be some scope for saving tax by taking deposits before the increase. Also make sure you have budgeted for the additional cost to your business.
You may also be interested in the following stories, featured in our latest newsletter:
Employers and employees to pay 1.25% more NICs in 2022/23
Rise in National Insurance to fund development of the health and social care tax.
What you need to know
Shareholders and directors hit by dividend tax rate rise
The three dividend tax rates will increase for the first time since the 2010/11 tax year.
What’s changing?
SDLT tax receipts hit high despite holiday
Receipts for July 2021 second highest on record.
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All the best,
The Team at R T Marke & Co