Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 25th May , 2022

Government owes £236m in tax for off-payroll staff The Government has been criticised by MPs for "widespread non-compliance" with IR35 rules, which require companies to determine the tax status of freelancers and [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 24th May , 2022

Unemployment falls while job openings hit a new high While the average annual salary rose by 7% in March, most workers saw a fifth consecutive month of declining living standards. Office for National Statistics data show[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 23rd May , 2022

CGT increases by £5bn in two years Official figures from HMRC show the amount of Capital Gains Tax (CGT) collected by the Government rose from £9.8bn in 2019/20 to £14.9bn in 2021/22. Sean McCann at NFU[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 20th May , 2022

Britons face £7.5bn stealth tax hit Taxpayers are set to pay more than £7.5bn in ‘stealth taxes’ this year due to surging inflation and a freeze on tax brackets. Chancellor Rishi Sunak has frozen [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 19th May , 2022

One in five pulled into higher tax bands Analysis of official figures by pensions consultancy Lane Clark & Peacock (LCP) shows that one in five workers will be paying higher or top-rate tax by the next general electi[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 18th May , 2022

Rate-setter warns of persistent inflation Michael Saunders, a member of the Bank of England’s rate-setting monetary policy committee, has echoed concerns recently raised by Andy Haldane, the Bank’s former ch[...] continue reading