Posted in Accounting, Tax
April 7th, 2025
Changes to Capital Gains Tax (CGT) are set to impact business owners and investors, particularly those planning to sell assets. The CGT rate for Business Asset Disposal Relief (previously Entrepreneurs’ Relief) will…
Posted in PAYE, Payroll, Tax
April 7th, 2025
From 7 April 2025, recipients of the State Pension will see a 4.1% increase, bringing the new full weekly payment to £230.25. This uplift is part of the government’s ongoing…
Posted in Tax
April 5th, 2025
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requires businesses and landlords with qualifying income to maintain digital records and update HMRC each quarter using compatible software.…
Posted in PAYE, Payroll, Tax
April 1st, 2025
The National Minimum Wage (NMW) is increasing across all age brackets, with some of the most significant rises seen for younger workers. Workers aged 21 and over will now be entitled…
Posted in Tax
April 1st, 2025
For self-employed individuals and those under self-assessment, tax payments are made in two installments, known as payments on account. These advance tax payments help spread the cost of the year’s…
Posted in Accounting, PAYE, Payroll, Tax
March 28th, 2025
For employers and employees, one of the most notable changes in 2025/26 is the increase in Employers’ National Insurance Contributions (NICs), which will rise from 13.8% to 15%. This change means…
Posted in Accounting, Bookkeeping, Tax
March 7th, 2025
For companies operating in the UK, corporation tax payments are due nine months and one day after the end of the company’s accounting period. This means if a company’s financial…
Posted in PAYE, Payroll, Tax
March 1st, 2025
Two major economic indicators will be released in the autumn of 2025, shaping decisions on pensions, benefits, and general cost-of-living adjustments. These figures, published by the Office for National Statistics…
Posted in Accounting, Tax
February 7th, 2025
From April 2025, most double cab pick-ups will be treated as cars, not vans, for direct tax purposes, potentially meaning increased tax bills for employers, employees and businesses. Currently, HMRC…
Posted in Accounting, Tax
March 16th, 2023
There was good news in the Budget for those saving in a personal pension. The current pension lifetime allowance (LTA) charge is being abolished from 6 April 2023. The LTA…
