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Earlier this summer, the Treasury launched a consultation to reform taxation for self-employed businesses where the accounting year for the business differs from the tax year. Under the proposals, the transition for the change was due to take place in 2022/23, however last week the Treasury announced a delay by at least 12 months with the transition not coming into effect before 2023/24. In addition, the Government recently announced a new health and social care levy by increasing National Insurance Contributions by 1.25% to take effect from 6 April 2022, before the Budget announcement on 27 October.
The key changes that firms should consider making to their constitutions now, which will equip them to act very quickly if they need to raise money or conserve cash in future at short notice.
We are delighted to invite you to join the Professional Practices Alliance LinkedIn group, a collaborative networking and information sharing space for professional services firms.
Earlier this summer, the Treasury launched a consultation to reform taxation for self-employed businesses where the accounting year for the business differs from the tax year. Under the proposals, the transition for the change was due to take place in 2022/23, however last week the Treasury announced a delay by at least 12 months with the transition not coming into effect before 2023/24. In addition, the Government recently announced a new health and social care levy by increasing National Insurance Contributions by 1.25% to take effect from 6 April 2022, before the Budget announcement on 27 October.
The key changes that firms should consider making to their constitutions now, which will equip them to act very quickly if they need to raise money or conserve cash in future at short notice.
We are delighted to invite you to join the Professional Practices Alliance LinkedIn group, a collaborative networking and information sharing space for professional services firms.