Premier Accounts Blog

Buy-to-let landlords and second homeowners have twice the amount of time to report and pay capital gains tax after selling a residential property in the UK. The deadline to report and pay capital gains tax after completing the sale of additional UK residential...

Reforms to the ways in which unincorporated businesses pay income tax – known as basis periods – will go ahead, one year later than planned.  Proposals and draft legislation were published in July 2021, suggesting the new rules would commence from 6 April...

Delving into recent changes that affect the CIS. The construction industry remains one of the UK’s key sectors, which also helps to underpin the UK economy, despite experiencing the effects of the COVID-19 pandemic.  In September 2021, construction output grew by...

Chancellor Rishi Sunak has extended a coronavirus loan guarantee scheme in a bid to protect UK businesses into next year. Sunak used his Autumn Budget speech to announce a six-month extension of the recovery loan scheme, which had been due to end on 31 December 2021...

“Today’s Budget does not draw a line under COVID-19; we have challenging months ahead”, said Chancellor Rishi Sunak. Chancellor Rishi Sunak resisted temptation to raise taxes to start paying for the emergency support schemes that kept so many businesses afloat during...

The stamp duty land tax holiday in England and Northern Ireland has come to an end, more than 14 months after it first came into effect.  The tax break saw most buyers who purchased residential homes for £500,000 or less pay no stamp duty land tax until 30 June...

The Government is being urged to introduce a new road-pricing system, because the increasing popularity of electric vehicles risks leaving a £30 billion hole in public finances each year.  Research submitted by the Tony Blair Institute for Global Change called...

How your status affects the amount of tax you pay. For most UK citizens, the question of what income and gains should be included on their tax return is easily answered because they are both UK domiciled and UK tax residents.  Anyone domiciled and resident in the UK...

Three grants worth up to £21,570 are taxable.  A chunk of time has passed since the self-employed income support scheme (SEISS) was launched in May 2020, following the onset of the COVID-19 pandemic.  The first taxable grant, worth up to £7,500 in total, was...

The Government could be set to raise National Insurance contributions (NICs) by 1% for both employers and employees, a report has claimed.  The Times claimed senior ministers have agreed to increase rates to raise an extra £10 billion a year for the National...