The government has accepted in full the recommendations of the Low Pay Commission and announced increased rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2024.
To increase business investment, the government has announced a number of measures which could raise around £20 billion per year from businesses in a decade’s time. The changes include:
The Chancellor announced major changes to the National Insurance contributions (NICs) system at the Autumn Budget in November 2023.
This article summarises the tax updates announced in the Autumn Budget 2023. These will be of interest to individuals and landlords. This includes Capital Gains Tax, Inheritance Tax, Back to Work Plan, State Benefits, Individual Savings Accounts and Pension Tax Limits.
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses.
Several schemes are available to employees that allow them to purchase shares in the company they work for if this option becomes available to them.
Following the Spring Budget 2023, this article summarises three important areas for businesses: Corporation tax, Capital allowances and R&D Development.
The Spring Budget was announced on 15 March 2023, we have summarised the key aspects of the budget that relate to personal tax.
In the Spring Budget 2023, there were updates to National Insurance contributions, wages and changes to tax benefits on cars and vans. This article summarises the changes that you need to know as an employer.
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecasted a stronger-than-expected performance from the UK economy this year with inflation continuing to fall.
On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services.
This article gives an update on Making Tax Digital, Corporation Tax Rates and Capital Allowances. There is also an update on The Residential Property Developer Tax which was introduced in April 2022.
As an employer, it’s important to keep up to date with changes in employment tax. We offer a payroll service and always ensure that our clients are kept up to date with these changes so they remain compliant and it also helps them with financial planning.
In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses.
Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech, he set out the plans to “build back better” with ambitions to level up and reduce regional inequality.
On Wednesday 8 March Chancellor Philip Hammond presented the Spring Budget 2017. We have created a document that you can download here and read our summary by clicking this link: Spring Budget 2017.
Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.
A summary of the Spring Statement 2018 is now available on our website, you can click on the link to download this to read.
Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech, he stated that ‘austerity is coming to an end - but discipline will remain’.
In his speech, the Chancellor provided an update on the economy and responded to the Office for Budget Responsibility forecasts. In addition, he launched consultations on various aspects of the tax system together with updates on earlier consultations.
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When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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