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Tax Update 2021

A Tips & Advice Special Report about...

In a nutshell

This Special Report covers all the major changes to UK tax law up to and including Finance Bill 2021. With the pandemic having cost a colossal sum, the government will start taking measures to recoup its support measures via tax hikes. Fortunately, this Special Report explains the most important changes in plain English with examples to help you apply them in practice. Using our practical advice will help you avoid costly traps and take legitimate measures to pay less tax.

In detail

Our Special Report looks at all the key aspects of the latest changes including:

  • Trading losses extension to relief rules
  • Corporation tax rate increase
  • Capital allowances super-deduction and SR allowance
  • Income tax and National Insurance rates and allowances for 2021/22
  • Coronavirus tax measures
  • Flat rate expenses tax deduction
  • NI holiday for employers of veterans
  • IR35 and off-payroll contracts post-April 2021
  • Construction industry VAT scheme
  • VAT - post-Brexit cross border transactions

With this Special Report, you'll quickly understand the dos and don'ts and the consequences of the 2021 tax regime for you and your business. It's all you need to play it safe and prepare for additional changes to the tax rules that are in the pipeline.

We've created this Tips & Advice Special Report especially for... 

Company owners and directors, in-house accountants and individuals that want to:

  • Get a clear view of the new tax rules
  • Keep their business and/or personal tax bill down

Tax advisors and accountants that want to:

  • Get to grips with the new tax rules
  • Help their clients save tax

In this Tips & Advice Special Report you'll read about...

Individual taxes

Income tax rates and allowances 2021/22

Dividends

Scottish taxpayers

Welsh taxpayers

National Insurance contributions

Pensions

Tax-efficient investments

HMRC rates of interest

Inheritance tax (IHT)

Businesses and companies

Self-Employment Income Support Scheme

Tax deductibility of business rates repayment 

Corporation tax (CT) rate increase

Loss relief

Capital allowances

Capital allowances - super-deduction and SR allowance

Annual investment allowance (AIA)

Cars and related assets

Capital gains tax

Annual exemption

Gift holdover relief

Property taxes

Individuals

Companies

Relief for freeports

Employment and employment taxes

Furlough scheme

National minimum wage and national living wage increases

Student loans and postgraduate loans

Flat rate expenses tax deduction

NI holiday for employers of veterans

Easing of rules for cycle to work scheme

Exemption for reimbursement of coronavirus tests and office expenses

Zero-emission vans

PAYE settlement agreements (PSAs)

EMI working time relaxation 

Apprenticeship incentive

Off-payroll working (IR35)

VAT

Brexit - the VAT implications

Reverse charge for builders

VAT rate for hospitality, holiday accommodation and attractions

Deferred VAT payments and related penalties

Other changes

Retail business grants

Business loans

Mortgages

EU interest and royalties

Universal Credit (UC)

Tax credits

Consultations

Appendices

Appendix 1 - Table of income tax rates

Appendix 2 - National Insurance rates and thresholds

Appendix 3 - HMRC interest rates

You can choose from the following options...

Paper

  • The hard copy version
  • Keep it on your desk or use it whenever you're offline

Digital

  • The PDF-version
  • Delivered to your inbox

Take a look at your options below.

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Printed version
PDF-version

 

 

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Printed version
PDF-version

 

 

PAPER

Special subscribers' offer

£79.00

£59.00

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Standard offer

 

£79.00

 
PDF

Special subscribers' offer

£79.00

£59.00

Only if you already have a subscription
 

Standard offer

 

£79.00

 
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