Chancellor Rishi Sunak has unveiled his latest package of financial measures to protect businesses against the impact of Coronavirus
Chancellor Rishi Sunak told a press conference it was an “economic emergency. Never in peacetime have we faced an economic fight like this one” and he promised that if this package was not enough, he would go further. Following the Chancellors Budget announcements last week Rishi Sunak has now announced the following financial measures to shore up […]
Our summary of the Chancellor’s 2020 Budget
We have pleasure in providing you with our summary of the Chancellor’s 2020 Budget. Our summary of the Chancellor’s 2020 Budget is now available to download here. Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty caused by the spread of the coronavirus. Our Budget […]
The Bank of England has reduced interest rates to shore up the economy amid the coronavirus outbreak
Today the Bank of England has announced a cut in the base rate of interest from 0.75% to 0.25% taking the cost of borrowing back down to the lowest level in history. The reduction is aimed at freeing up billions of pounds of additional lending power to help banks support businesses. Subsequently the Chancellor also […]
For the fourth time in a row HMRC has included advice about trivial benefits in its Employer Bulletin, it says to clarify matters. In reality it’s back pedalling on its previous erroneous advice about when the trivial benefits exemption applies. What’s the full story?
A trivial storyIt started with a bacon roll in May 2019 and finished with a Christmas gift in February 2020. We’re of course talking about the tax and NI exemption for low value (trivial) benefits provided to employees. In a webinar in May 2019 HMRC suggested that if provided to staff on a regular basis […]
Changes to statutory sick pay rules to combat coronavirus
During today’s Prime Ministers Questions the Prime Minister has announced changes to statutory sick say to help combat an outbreak of coronavirus. Under emergency legislation, statutory sick pay will be available from the first day of illness (currently it is only available after 4 days of illness). The Prime Minister said ‘nobody should be penalised […]
Increases to the National Minimum Wage and National Living Wage from 1 April 2020
On 1 April 2020 the hourly rates for theNational Minimum Wage and National Living Wage will increase. The hourly rate for the minimum wage depends on your age and whether you’re an apprentice. To qualify you must be at least: Apprentices are entitled to the apprentice rate if they’re either: Apprentices are entitled to the minimum […]
We are proud sponsors of Huish & Langport Cricket Club for 2020
At R & J Business Solutions we like to support the local community. We are proud sponsors of Huish & Langport Cricket Club again for the 2020 season. Good luck for 2020. Details of fixtures can be found here.
The Chancellor has announced an increase in the National Insurance threshold that will see reduced contributions for 31 million taxpayers
A typical employee will save around £104 in 2020-21, while self-employed people, who pay a lower rate, will have £78 cut from their bill. The government has set out the National Insurance thresholds for 2020-21, with the level at which taxpayers start to pay NICs rising by more than 10 per cent to £9,500 per […]
How will imports and exports change after the UK leaves the EU on 31st January 2020?
H M Revenue & Customs have released an update to businesses in the UK who may import and export between the UK and the EU to explain what they can do next to prepare for changes to customs arrangements after the UK has left the EU. Between 1 February and 31 December 2020, there will be […]
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