Latest News & Insights

HMRC new deferred VAT payment scheme

Last year HMRC allowed the deferral of payment for VAT liabilities due between 20th March and 30th of June 2020. This liability was due to be paid by the extended deadline of 31 March 2021. Due to the ongoing economic impact of the pandemic, HMRC have introduced a new VAT deferral payment scheme for these…
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Matthew Turner appointed Payroll Manager

Matthew Turner, a qualified payroll professional and employment law adviser, brings a wealth of experience in managed payroll services and department leadership. Matthew joins Botham Accounting from Rollpay Bureau in Pride Park where he was a Payroll Bureau Manager and a senior manager for the business. Speaking of his appointment, Matthew said: “I am excited…
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The Budget and Covid-19

The Budget on 11 March 2020 announced a three point plan in response to COVID-19 designed to support public services, individuals and businesses. The Government is going to continue to monitor the situation and stands ready to provide further support, should it be needed. Further support was hinted at on 16th March. Support for Businesses…
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Budget 2020

The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020. In his speech he stated ‘we are at the beginning of a new era in this country. We have the freedom and the resources to decide our own future’. ‘It is a Budget of a government that gets things done’. Our summary…
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Capital Taxes – Budget 2020

Capital gains tax (CGT) rates The current rates of CGT are 10%, to the extent that any income tax basic rate band is available, and 20% thereafter. Higher rates of 18% and 28% apply for certain gains; mainly chargeable gains on residential properties with the exception of any element that qualifies for Private Residence Relief. There…
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Employment Taxes – Budget 2020

National Insurance thresholds The government has recently announced National Insurance thresholds for 2020/21. Most thresholds will rise with inflation. Two thresholds, however, will rise by 10% from £8,632 to £9,500: the primary threshold – which sets the level at which employees start to pay Class 1 National Insurance contributions (NICs) the lower profits limit –…
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