No Accounting for Taste ep99: National insurance hike, MTD ITSA and employee ownership

AccountingWEB

On this episode of No Accounting for Taste, we probe the government’s new health and social care levy, chew over the latest MTD ITSA developments and take a deep dive look at the ‘guilt free’ exit plan of employee ownership. Chris Maslin, the founder of Maslins tax advisers, steps into the virtual pod booth this week to tell AccountingWEB’s Richard Hattersley and John Stokdyk about his decision to transfer a controlling stake in his firm to an employee ownership trust. The pod team also rounds up the big stories of the week, including the unveiling of the new health and social care levy. The PM’s plan is to increase national insurance by 1.25% from April 2022 to stem the post-Covid health and social care crisis. But the accountancy profession has already raised concerns over how this will be a further complication of the tax system. And as Making Tax Digital for income tax continues to dominate the headlines, the team looks at the calls to delay the basis period reform and the reasons why some AccountingWEB readers are calling this the “final straw” Links to the stories discussed on this podcast are available here: https://www.accountingweb.co.uk/content/no-accounting-for-taste-ep99-national-insurance-hike-mtd-itsa-and-employee-ownership