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Submit your Tax Return early to avoid the January rush
[email protected] rarely feels urgent until January suddenly arrives. For many, tax returns sit quietly on the to do list while more immediate priorities take over. Running a business, managing staff, travelling for work, family commitments and day to...
Dividend Tax Changes for Business Owners: What You Need to Know
Making Tax Digital for Income Tax
Following numerous delays, Making Tax Digital for Income Tax (MTD for IT) is only a year away from being made compulsory for individuals with an annual gross rental income and/or a gross self-employed income of over £50,000. The income threshold will be lowered over...
Tax Rates and Allowances 2025/26
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
Spring Statement 2025
Spring Statement 2025 SummaryChancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and...
Tax benefits of marriage
Autumn Budget 2024 Summary
Autumn Budget 2024 SummaryChancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. Billions in tax rises Ms Reeves said the Budget will raise £40 billion in...
Autumn Budget 2024 – Key Tax Announcements
Today, Chancellor Rachel Reeves announced her 2024 Spring Budget where she summarised the UK economic performance and announced her proposals for tax. In this budget, the chancellor announced that she will raise taxes by £40bn to increase government funding. In this...
Reasons to file your self assessment tax return early
It may be tempting to put off preparing your self-assessment tax return until later in the year. However, there are many benefits of submitting your tax return early and keeping on top of your tax affairs. Peace of mind Christmas can be a very busy time of year so...
Date announced for 2024 Autumn Budget
Chancellor Rachel Reeves has announced that she will deliver her Autumn Budget on Wednesday 30th October. This will be Rachel Reeves’ first Budget as Chancellor. It should also provide an insight into what direction the new Labour government will take on tax policy....
Millions shifted into higher tax brackets
As tax thresholds remain unchanged, the number of taxpayers paying the additional rate will exceed 1 million for the first time. Tax revenue and increasing burden This year, HMRC is projected to collect £63.2 billion in income tax, contributing to a total of £272.6...