fbpx

Payment Holidays

The Financial Conduct Authority (FCA) introduces a temporary freeze on Credit Card, Loan and Motor Finance repayments? Due to the adverse affects of Covid-19 on household finances, as of 9 April 2020, the FCA has announced that there will be a temporary freeze on loan, credit card and motor finance payments, for those experiencing financialContinue reading “Payment Holidays”

The 2020 Budget – Business Tax

Deferral of tax payments Business owners will be able to defer tax payment over an agreed period of time from today. There will be a dedicated helpline with 2,000 staff standing ready to help, due to the Coronavirus outbreak. Coronavirus Business Interruption Loan Scheme This loan scheme is set up to help small business ownersContinue reading “The 2020 Budget – Business Tax”

The 2020 Budget – Personal Tax

Income tax and National Insurance The personal allowance is £12,500. With the higher rate of 40% becoming effective on income above £50,000. The tax threshold for National Insurance Contributions will rise from £8,632 to £9,500. Statutory Sick Pay (SSP) Self employed workers will be able to claim SSP from day one and will have accessContinue reading “The 2020 Budget – Personal Tax”

The 2020 Budget – Overview

Overview The newly appointed Chancellor Rishi Sunak, delivered his first budget speech, this afternoon. Promising to boost the economy and get the country through the Coronavirus outbreak. This morning, the governor of the Bank of England, Mark Carney, announced an emergency reduction of interest rates from 0.75% to 0.25%. In an effort to support growthContinue reading “The 2020 Budget – Overview”