Newly appointed Chancellor of the Exchequer, Jeremy Hunt made an emergency statement in an attempt to calm the financial markets. Just three weeks after the mini-Budget was announced, vast swathes of its policies have now been redacted by the new Chancellor. Tax cuts scrapped includes the promised cut in the basic rate of income tax;…
The Growth Plan – Dramatic Changes On 14 October, Chancellor Kwasi Kwarteng was displaced as Chancellor of the Exchequer amid intense speculation that Prime Minister Liz Truss is about to renounce key parts of the economic plan as stipulated in the Mini Budget announced last month. Today’s events mark further U-turns announced by the Government;…
Kwasi Kwarteng was appointed Chancellor of the Exchequer on 6 September 2022 amidst a turbulent time for the Conservative Government, and within the wider context of financial hardship for many individuals and businesses. Chancellor Kwarteng’s first task was to deliver a mini-budget — effectively an emergency budget — which could drive forward the manifesto pledges…
Rishi Sunak, the former Chancellor announced in May of this year a range of measures to help reduce the impact of the anticipated “October 2022 Ofgem utility price cap increase”. The announcement followed an earlier assistance package revealed in February, ahead of the April 2022 Ofgem price cap increase from £1,277 to £1,971. Sunak’s measures,…
By Becky O’Flynn, MTD Manager at White Hart Associates HM Revenue & Customs have published guidance on the introduction of the new penalty regime which will be effective from January 2023. The changes were deferred from April 2022 to grant HM Revenue & Customs more time to make the necessary system changes. Essentially, these…
By Jake Cohen, Finance and Regulatory Analyst at White Hart Associates Travel businesses do not want mandatory bonds or the forced segregation of customer monies as part of a new-look Air Travel Organiser’s Licence (ATOL) scheme. These are two of the key findings from the Civil Aviation Authority’s (CAA’s) long-awaited summary of responses from…
By Chris Photi, Head of Travel and Leisure at White Hart Associates Well done Lucy Huxley, Ian Taylor and the TW Group team on an excellent TW Spring Travel Forum at the Google building yesterday. It was a thoughtful series of sessions and thank you for allowing me to give a financial outlook overview to…
The Chancellor’s Spring Statement was delivered amidst dire social and economic circumstances. Living costs continue to increase at an alarming rate; the levels of inflation escalating to the highest in 30 years within an economy struggling to find its feet after the Coronavirus pandemic. Events played out on an international level will also have consequences…
Today the Chancellor Rishi Sunak delivered a Spring Statement amidst rising inflation and a struggling economy trying to recover from a pandemic. If you are trying to decipher how it impacts upon you and your business, rest assured our Spring Statement Summary will be with you tomorrow morning. In the meantime, here are the key…
HM Revenue and Customs have just announced that they are waiving late filing penalties and late payment penalties for Self-Assessment taxpayers for a unique one-month period only. These reprieves are a temporary departure from previous years’ 5% late payment penalty fee, which was charged on any unpaid tax that was still outstanding as of 3rd…
