In addition to the increase in NI rates, it has also been announced that Dividend tax will also increase by 1.25% from 6 April 2022. The new dividend tax rates, which will apply across the UK, are: Basic rate - 8.75% (Currently 7.5%) Higher rate - 33.75% (Currently 32.5%) Additional rate - 39.35% (Currently 38.1%) The 1.25% tax rise will apply to dividends above the tax bands in future years, the government has not yet provided details of the proposed tax bands for 2022-23.
The temporarily reduced rate of VAT ( Currently 5%) in the Tourism & Hospitality sector is increasing on 1st October 2021. Current Rate - 5%
From 15/07/2020 - 30/09/2021 New rate - 12.5%
From 01/10/2021 - 31/03/2022 For any further information on this and how it affects you and you business, get in touch and we will be happy to help Pete
PJL Accounts Ltd
Pete@pjlaccounts.co.uk #VAT #UKTAX #VATINCREASE #hospitality #Tourism #accountant #pjlaccounts
Hi everyone! I hope you all had a lovely Christmas and are now ready to have an incredible 2021. In what was a crazy year, I like to remind myself of the positives that have come out of it, the main one for me being the start of my business which I am already incredibly proud of. I wanted this update to start with me sharing my personal experience of 2020, I will then move onto accounting updates to keep you in the loop of any relevant changes. 1. Eat, Sleep, Work, Repeat Ma
Hi! Welcome to the first PJL Accounts weekly update. It's been a busy week with the continuation of the vaccine rollout, the updated Tiers being announced and plenty of rain! Personally I have had a productive week with work, trying to get organised for Christmas and ready for the mad rush that January usually is thanks to the tax return deadline. I'm now ready to call it a week, watch plenty of football, finish my Christmas shopping & have a little festive drink. Key notes f