A Brief summary of “Fiscal Event” delivered by the Chancellor

Houses of Parliament

Here is a brief summary of today’s “Fiscal Event” delivered by the Chancellor. Business Support and Growth The Chancellor has stated that growth is not as high as it should be and “This has made it harder to pay for public services requiring taxes to rise, in turn higher taxes on capital and higher taxes on […]

HMRC Tax Receipts 2021/22 – A quick breakdown and summary

HMRC Tax Receipts 2021/22

Latest HMRC tax receipts show that the UK Government has collected £718.2bn in the fiscal year 2021-22. This is an increase of 23% compared to 2020-21 where tax receipts collected was £584.5bn and an increase of 13% compared to 2019-20 (pre-pandemic) levels where tax receipts were £633.4bn. These are staggering figures, so soon after lockdown […]

Spring Statement 2022 – Full In Depth Look

Spring Statement 2022

The Chancellor presented two Budgets in 2021 in which he set out a great many details of the tax rates and rules that will apply until April 2026. The 2022 Spring Statement was expected to review the economic situation and adjust forecasts. It was not supposed to include anything significant about tax. Of course, things […]

Spring Statement 2022: What it means for the cost of living crisis

Houses Of Parliament

Having previously announced financial assistance to help with the growing cost of living crisis by way of, £150 reduction in council tax (for eligible households) and £200 towards energy bills (albeit repayable over 4 years), totalling £350 for households up and down the country. The Chancellor of the Exchequer announced further measures in his spring […]

Chancellor Sunak’s Budget for Recovery

tax planning

There will have been many different expectations from yesterday’s much anticipated budget. Business owners will have been hoping for continued support to help them rebuild their businesses and help them grow post Covid. Employees will have hoped for measures to protect their jobs and incomes. Those hoping to buy a home will have looked to […]

Friend Partnership 2020 Budget Analysis

The Budget 2020

This was Mr Sunak’s first Budget speech having been Chancellor for only a matter of weeks following Mr Javid’s surprise resignation. The Chancellor faced a tough proposition with this year’s Budget speech. As a new administration, with a healthy majority and five-year term, some mildly ‘unpleasant’ measures might have been expected. On the plus side, […]

Budget 2018 preview – will we see tax hits for pensions and online retailers?

Houses of Parliament

Birmingham accountants and business advisers Friend Partnership, take a look at what the Chancellor might announce in his Budget speech on 29 October. It is clear from recent press speculation that Mr Hammond in his Budget speech on 29 October will be announcing tax rises. This is on the back of Brexit uncertainty, weaker than […]