Autumn Budget 2025 – Key Measures for Individuals and Businesses The Chancellor’s Autumn Budget 2025 has introduced a wide range of measures that will affect both personal taxpayers and the business community. Below we outline the main announcements most relevant to our clients. Personal Tax Changes Income Tax and National Insurance Personal allowance (£12,570) and…
Key Points of Spring Budget 2024 Below is a summary of some of the key points announced recently. Personal Tax National Insurance The main rate of Class 1 employee National Insurance Contributions (NIC) will be reduced from 10% to 8%, effective from 6th April 2024. A further cut of 2p to the…
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…
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%…
Mini Budget (September 2022) – Key Points Below is a summary of some of the key changes, announced by the Chancellor today. Corporation Tax The planned increase in Corporation Tax to 25%, due to take place in April next year, has been scrapped and will therefore remain at 19%. See here for further details.…
Some of the key Budget announcements, provided by Croner Taxwise, are detailed below. Annual Investment Allowance The annual investment allowance (AIA), which is currently set at £1m per annum, was due to fall to £200,000 from 1 January 2022. The Chancellor has announced that the temporary increase will be extended, with the AIA remaining at…