Upcoming Tax Changes for the 2023/24 Tax Year
Posted on March 2, 2023INCOME TAX The rates of 20% (basic)/40% (higher)/45% (additional) will remain unchanged. The thresholds will stay as £12,570 personal allowance and £37,700 the basic rate band BUT the additional rate will decrease from £150,000 to £125,140 whi More...
2022/2023 Tax Year – What do I need to know?
Posted on March 10, 2022An overview of the changes to the tax rules for the coming tax year. Personal Allowance, National Insurance and Employment Allowance The personal allowance is remaining at £12,570, and the higher rate tax threshold is remaining at £50,270. Fro More...
What is the most tax efficient remuneration strategy for directors in the 2019/2020 tax year?
Posted on March 14, 2019Changes in 2019/20 affecting the remuneration strategy for directors The 2019/2020 tax year starts on 6th April and with it comes a number of changes which will have an impact on how, as a director, you extract money from your company. The following cha More...
Providing small gifts to employees
Posted on May 17, 2018(or in HMRC speak “Trivial Benefits provided by an employer”) If you provide a small gift/benefit to an employee no tax will be due if the following conditions are met: A – the benefit is not cash or a cash voucher (e.g. a John Lewis vou More...
Five common errors in applying the National Minimum Wage
Posted on April 19, 2017As the penalties for employers who underpay their workers is now £20,000 per worker instead of £20,000 per notice it is more vital than ever that you pay your workers the correct amount. From 1 April 2017 The National Minimum Wage rates per hour have More...
