06 Apr 2022
This week’s topics:
April’s personal tax changes: what impact will they have?
Why a proactive approach to Climate-related Financial Disclosure is good for business.
Stablecoin - how the state-backed asset is ready to take off in the capital markets
How April’s tax changes will impact households
Today (6 April) the higher rates of National Insurance Contributions come into effect, increasing the National Insurance Contribution by 1.25 percentage points. Inheritance tax, stamp duty, income tax, dividend thresholds, starting rates for savings, personal allowance thresholds, pensions lifetime allowance and many more have all been frozen by recent Chancellors, with incoming ones choosing not to reverse the measures. This means more people are paying more tax.
Christine Cairns, personal tax expert at PwC UK, comments:
Why businesses will benefit from a proactive approach to TCFD
From today (Wed 6th April 2022) mandatory reporting against the Task Force for Climate-related Financial Disclosures (TCFD) comes into effect for more than 1,300 large businesses. But for those businesses not strictly required to be compliant, there are reasons why a proactive approach would be beneficial.
Tom Loukes, partner in the ESG reporting advisory team at PwC UK, comments:
Stablecoin - how the state-backed asset is ready to take off in the capital markets
Cryptoassets - a type of digital currency - have existed as a concept for over a decade, yet, in the past four years we have seen a sharp increase in their adoption. In line with the increasing complexity and popularity of cryptocurrency as a whole, this week we released our Stablecoin Overview 2022, which provides a synopsis of the key trends and developments of this crypto asset.
Haydn Jones, director and senior blockchain market specialist at PwC UK, comments:
Something to read:
PwC’s Youth Employment Index, in collaboration with Youth Futures Foundation, has found that the UK has risen from 20th to 18th in global rankings - but could benefit from £38bn GDP boost if NEET levels are lowered to same level as Germany
Something to listen to:
Catch up on this twitter space where Head of Influencers at COP26 Eleanor O’Keeffe talked to Leo Johnson, PwC’s Disruption lead, about climate tech, the green energy drive and policies to support start-ups.
Something to watch:
On International Transgender Day of Visibility, Head of Audit Hemione Hudson concluded our IWD #BreakTheBis video series by interviewing Katie, a colleague who discussed her transitioning journey. Katie talks about what it was like to share her new identity with her clients, colleagues and family - as well as how life has been since.
Ends
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Head of Content, Business Restructuring Services, PwC United Kingdom
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