CORONAVIRUS (COVID-19) LATEST UPDATES HERE

blog header image

Posted : 30 Oct 2018 at 13:29:18
Category: Important Announcement

Share this article

Further to Philip Hammond's Budget yesterday, the Conservative government has reiterated that the 'era of austerity is coming to an end'. This statement is supported by the drastic fall in the country's deficit from 9.9% in 2009-10 to 1.9% currently.


Employment rates are at a near record high, with unemployment rates at their lowest in over 40 years which is great news.


Here are some of the key points:


Personal:

From April 2019 the National Living Wage will rise from £7.83 to £8.21

Personal Allowance to increase from £11,850 to £12,500 in April 2019

Higher rate threshold to increase from £46,350 to £50,000 in April 2019

There will be an extension to the qualifying period of Entrepreneurs relief from 12 months to 2 years


IR35:

IR35 reforms have finally been confirmed to affect the private sector, however the introduction will be delayed until April 2020 and will only affect large and medium sized businesses.


Business:

Employment allowance for Employer's National Insurance is to be revised for larger firms

VAT threshold to remain unchanged at £85,000 for the next 2 years

Increases in the annual investment allowance from £200,000 to £1 million for the next 2 years

Level of contributions made by small companies to the apprenticeship levy to be reduced from 10% to 5%


Brexit:

The chancellor confirms the government have reached a pivotal moment in Brexit negotiations and are confident of a good deal, however funds have been set aside to cover all eventualities totaling £2.2 billion

Increase in funding to help departments to prepare for Brexit to over £4 billion


Others:

Fuel duties to be frozen for the 9th successive year

Tobacco duties continue to rise at inflation plus 2%

Duties to be frozen on beer, cider and spirits for a year to support pubs

New rail card to be introduced to save young people, aged between 26 and 30, a third off rail fares

Short-haul rates of Air Passenger Duty will not rise, whereas long-haul rates will rise in line with inflation

SIMILAR NEWS

blog header image
IMPORTANT ANNOUNCEMENT
MP REMOTE VOTING SCRAPPED BY JACOB REES MOGG

MP's are being told that they are not allowed to attend the House of Commons and that the previously approved remote voting has now been scrapped by Jacob Rees Mogg in the new Parliamentary voting sys ...

blog header image
IMPORTANT ANNOUNCEMENT
ONLY 50 MPS ALLOWED TO VOTE IN THE HOUSE OF COMMONS.

Posted from  Kirti Shukla StopIR35 Campaign (sealliance.org.uk)   ONLY 50 MPs ALLOWED to VOTE in the House of Commons.OBSTRUCTING DEMOCRACY again? A FIX?We all understand only 50 ...

blog header image
IMPORTANT ANNOUNCEMENT
FINANCE BILL COMMITTEE STAGE DATES ANNOUNCED

Dates for all committee stages of the passage of the Finance Bill, including links to the debates have been announced. https://services.parliament.uk/Bills/2019-21/finance/stages.html ...

blog header image
IMPORTANT ANNOUNCEMENT
FINANCE BILL IGNORED BY THE FINANCE SECRETARY - OFF-PAYROLL TO GO AHEAD APRIL 2020

The Finance Bill was discussed yesterday by the Government which outlined the planned Off-Payroll changes due in 2021. MP's such as David Davis, Sir Ed Davey proposed an amendment to delay the Off-Pay ...

blog header image
IMPORTANT ANNOUNCEMENT
LATEST FIGURES SHOW MILLIONS BENEFITTING FROM TREASURY CORONAVIRUS SUPPORT SCHEMES

Brace yourself for the figures reference to the Loans approved for the Government Support Schemes. The new figures show that: 8 million jobs have now been furloughed with £11.1 billion claimed ...

blog header image
IMPORTANT ANNOUNCEMENT
94% OF GENIUS WORKERS QUALIFY FOR THE GOVERNMENTS FURLOUGH SCHEME

The Genius Money team is proud to state that due to our experience and as a result the way that we are contractually set up, this has resulted in nearly every Temporary Worker and Contractor that we w ...