Money Matters - February 2022 Accounting Newsletter
Posted on February 15, 2022

We are pleased to offer you a complimentary copy of our latest newsletter.

As we move towards the new tax year, tax threshold freezes and forthcoming tax increases are upon us. In the first edition of our newsletter for 2022 we a look at a range of measures to help you manage your tax liabilities. Our feature focuses on inheritance tax planning following the government’s shelving of anticipated restructuring measures for IHT. We look at ways to reduce exposure to IHT and shield your inheritance.  We also outline strategies for managing your tax bill in light of the 2022/23 tax rises and threshold freezes.

The articles in this issue are:

  • Year-end planning for tax changes The new tax year sees the start of the 1.25% rise in national insurance contribution rates and income tax on dividends.
  • MTD extends on VAT and penalties regime changes MTD will be extended to businesses below the VAT registration threshold from 1 April 2022.
  • Shielding your inheritance The government has ruled out a substantial reform of IHT with both the nil rate band and residence nil rate band frozen until April 2026.
  • HMRC clarifies taxation of crypto assets  HMRC is contacting taxpayers who they believe hold crypto assets, advising them of the potential capital gains tax implications.
  • Don’t fall for it: the rise in tax scams Increased online spending during the pandemic has brought with it a corresponding rise in the number of people falling victim to financial scams.

We hope you enjoy reading the newsletter. Please get in touch if you need help or advice on any of the topics covered.