Łapcie podsumowanie mini budżetu z piątku (fiscal event summary mini budget) #uk
Company and property taxation changes
UK Corporation tax – to remain at 19% for all profits and not increase to 25% in April 2023
Investment zones – Consultation with Local Authorities to identify and designate “Investment Zones” and these areas will benefit from tax incentives including:
Stamp Duty Land Tax – full SDLT relief for land and buildings bought for use or development for commercial purposes, and for purchases of land or buildings for new residential development.
100% relief from business rates on newly occupied business premises and certain existing businesses where they expand in English Investment Zone tax sites.
Enhanced Capital Allowance – 100% first year allowance for companies’ qualifying expenditure on plant and machinery assets for use in Investment Zones.
Enhanced Structures and Buildings Allowance – accelerated relief to allow businesses to reduce their taxable profits by 20% of the cost of qualifying non-residential investment per year, relieving 100% of their cost of investment over five years.
Employer National Insurance contributions relief – zero-rate Employer NICs on salaries of any new employee working in the site for at least 60% of their time, on earnings up to £50,270 per year, with Employer NICs being charged at the usual rate above this level.
Capital Allowances – permanent increase in annual investment allowance to £1m.
SDLT on residential property – increase to the values of thresholds where SDLT is payable
Property Value Standard Residential Rates Higher Rate (where this isn’t the only property you own or acquirer is a company)
£0 – £250,000 0% 3%
£250,000 - £925,000 5% 8%
£925,000 - £1,500,000 10% 13%
£1,500,000+ 12% 15%
First time buyer relief also extended to remove SDLT from property purchases of less than £425k and to provide some relief on purchase of property up to £625k (from £300k and £500k respectively)
Employee and Employer changes
National Insurance to decrease (reversal of change from April this year) by 1.25% as of Nov 2022 for both individuals and employers
45% income tax rate to be abolished, Basic rate tax to reduce to 19% from 20% and the 1.25% increase to Dividend tax to be revered all as of April 2023
There are also proposals to simplify off payroll working compliance for businesses
LINK DO RESTREAMA-PRZECZYTAJ ZASADY Restreamowy Amber Gold: -plusujesz ten wpis -dodajesz komentarz -wysyłam pierwszym osobom link na PW -oni wysyłają otrzymane linki komentującym niżej -Ty po otrzymaniu linku robisz to samo -każdy biorący udział wygrywa #famemma
Company and property taxation changes
UK Corporation tax – to remain at 19% for all profits and not increase to 25% in April 2023
Investment zones – Consultation with Local Authorities to identify and designate “Investment Zones” and these areas will benefit from tax incentives including:
Stamp Duty Land Tax – full SDLT relief for land and buildings bought for use or development for commercial purposes, and for purchases of land or buildings for new residential development.
100% relief from business rates on newly occupied business premises and certain existing businesses where they expand in English Investment Zone tax sites.
Enhanced Capital Allowance – 100% first year allowance for companies’ qualifying expenditure on plant and machinery assets for use in Investment Zones.
Enhanced Structures and Buildings Allowance – accelerated relief to allow businesses to reduce their taxable profits by 20% of the cost of qualifying non-residential investment per year, relieving 100% of their cost of investment over five years.
Employer National Insurance contributions relief – zero-rate Employer NICs on salaries of any new employee working in the site for at least 60% of their time, on earnings up to £50,270 per year, with Employer NICs being charged at the usual rate above this level.
Capital Allowances – permanent increase in annual investment allowance to £1m.
SDLT on residential property – increase to the values of thresholds where SDLT is payable
Property Value Standard Residential Rates Higher Rate (where this isn’t the only property you own or acquirer is a company)
£0 – £250,000 0% 3%
£250,000 - £925,000 5% 8%
£925,000 - £1,500,000 10% 13%
£1,500,000+ 12% 15%
First time buyer relief also extended to remove SDLT from property purchases of less than £425k and to provide some relief on purchase of property up to £625k (from £300k and £500k respectively)
Employee and Employer changes
National Insurance to decrease (reversal of change from April this year) by 1.25% as of Nov 2022 for both individuals and employers
45% income tax rate to be abolished, Basic rate tax to reduce to 19% from 20% and the 1.25% increase to Dividend tax to be revered all as of April 2023
There are also proposals to simplify off payroll working compliance for businesses
@m_bielawski: ale kto zarabia 100k na etacie? Powyzej 70k to juz sie totalnie nie oplaca.
Tak czy siak bardziej mnie boli to, że drugi próg dalej jest na £50k...