We offer a full range of Accounting, taxation and business support services to owner managed businesses, Individuals, small charities & other non-profit making organisations.

Spring Budget 2023

Budget, Business - Taxation, Personal tax

Spring Budget 2023 HMRC have released some notes on the announcements made at the recent Budget.  Some of the key points are summarised below: Business Tax Capital allowances – full expensing: the government is introducing full expensing. Companies incurring qualifying expenditure on the provision of new plant and machinery on or after 1‌‌‌ April‌‌‌ ‌2023 but…

Increases to the National Living Wage (NLW) and National Minimum Wage (NMW)

National Living Wage, National Minimum Wage

Increases to the National Living Wage (NLW) and National Minimum Wage (NMW) The Government has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2023. Further details can be found at GOV‌‌‌.UK. HMRC are providing live webinars that are taking place throughout March, where…

Gaps in National Insurance record and State Pension Entitlement

National Insurance, Pension

Gaps in National Insurance record and State Pension Entitlement Those clients looking to take their state pensions in the foreseeable future should consider whether it is worth making additional contributions to fill any gaps in their contribution history. Check your record of contributions using the following HMRC checklist. Check your National Insurance record – GOV.UK…

Autumn 2022 Budget Notes

Budget

Autumn 2022 Budget Notes Below is a summary of some of the key points announced recently. Income Tax and National Insurance The current Income Tax and National Insurance thresholds are to be frozen at their current rates until April 2028. The additional rate Income Tax threshold, whereby income over £150,000 is currently taxed at 45%…