Autumn Budget 2025 The Chancellor, Rachel Reeves, delivered her Autumn Budget today. Please find a breakdown of the key measures affecting Individuals, Sole Traders, and Limited Companies below. SECTION 1: Impact on Individuals & High-Net-Worth Clients The main burden on…
Capital Gains Tax 1. Rate Increases: 2. Business Asset Disposal Relief (BADR) Changes: 3. Investors’ Relief: 4. Other CGT Considerations: Why the Changes? The government aims to raise revenue and potentially reduce inequality. Higher CGT rates may also discourage speculative…
Main rate of National Insurance cut by 2p From 06 April 2024 the main rate of National Insurance for employees will be reduced by 2p, representing a reduction from 10% to 8%. This change will benefit the average employee by roughly £470 per year. Meanwhile, self-employed National Insurance…
Income tax bands frozen until April 2028 Income tax rates and personal allowances will remain at the same level until at least April 2028 as part of the fiscal drag, resulting in more workers falling into higher tax brackets as wages increase…
National Insurance U-Turn In April 2022 Class 1 National Insurance (NI) contributions increased by 1.25p in the pound, this has now been reversed by the Government from 6 November 2022. This may impact some of your clients who use Payroll, rest assured the QuickBooks product will automatically…
Here are some general tools and calculators directly linked to HMRC. Please use them for any common questions you have
In the Spring Statement earlier this year, the then Chancellor, Rishi Sunak, announced an NIC tax-cut to take effect from 6 July 2022. This change sees the National Insurance threshold increased from £9,880 to £12,570.
What is a dividend? Generally speaking, dividends are paid to anyone who holds shares in a company. They are paid out of the reserves left in the company once the tax has been removed from the profit.
There are multiple ways in which you can withdraw a pension. Some are more tax efficient than others and some may suit your personal needs more than others.
The super deduction was introduced on 01 April 2021 and will be available to all companies up to 31 March 2023. This is to support businesses during the Coronavirus pandemic. Normally the purchase of new equipment would fall under the writing down allowance of 18% per year.
