April 2022 is the first in a series of important annual April tax changes:

• April 2022 - increase in national insurance and dividend tax by 1.25%
• April 2023 - increase in corporation tax from 19% to 19%/26.5%/25%
• April 2024 - MTD for income tax for sole traders and landlords with sales/rents over £10k
• April 2025 - MTD for partnerships and LLPs without a corporate partner

For now, we're focussing on the forthcoming April 2022 change and how you may want to react. Firstly, let's look at how much this might cost you:

As we reflect back on 2021, here are our Top 10 client queries we've seen time and again during 2021. You may see certain Covid related themes emerging! 

This week we heard about a new 1.25% tax to fund health and social care, but as only £5.4bn of the £36bn raised over the next 3 years will be spent on social care, this seems to be another tax 'pot' such as national insurance and income tax from which to fund the NHS.

Unfortunately, tax simplicity and clarity is something we never see from governments making it harder for everyone, including HMRC, to understand the tax system. So how might you respond?

Focussed On Brexit?

What About The Tax Year End Only 1 Week Later?

With all the understandable concerns about the effect of Brexit on business, it’s easy to forget other things, such as the tax year ends only 1 week later.

At least we have some control as to what we might do before the tax year end!