So as many of you are already aware; furlough ends this month.
For many they will have already prepared but for some, we appreciate there might still have been a degree of uncertainty/hope that the Government might have something up their sleeve.
It certainly appears that unfortunately this is not the case and there is nothing to our knowledge in the pipeline.
If you remain concerned about this please do get in touch and schedule a call with your client account manager.
What else you might have missed?
- The Super Deduction Tax Relief came in earlier this year so don’t forget to take advantage of this in light of the pending budget announcements where we are expecting to start feeling more of a pinch again. More information about this can be found here.
- In case you missed it from April 2022 tax on dividend income will increase by 1.25% to help support the NHS and social care.
- The Autumn budget is currently scheduled for October 27th so we are expecting to find out a lot more then.
Again if you have any concerns regarding either of the above points or want to schedule in advance a call following the budget announcement schedule this with your client account manager there now.
Is it worth continuing in business in light of all of this?
Whilst you might think this a fairly blunt and negative question to ask, let us be honest, many people have felt that way at least at some point over the last 18 months or so.
So many have now though come out the other side and are even; in light of pending tax rises, repayment of Government-backed loans, fighting back and doing really well with some working towards an exit valuation figure they never before dreamed of that they would be over the moon with and which would see them nicely into retirement.
We will share more insights around exit strategies in our mid month newsletter next month but there is certainly lots to think about so please do get in touch if any of the above is something you want to discuss further.