Cancelled – The increase in the rate of Corporation Tax

Cancelled – The increase in the rate of Corporation Tax

Last year Rishi Sunak announced an increase in the rate of corporation tax (CT) to be effective from 1 April 2023. This was going to affect UK corporations generating more than £250,000 profit. On 7 September 2022, new prime minister Liz Truss announced that the...
National Insurance Contribution increase to be reversed

National Insurance Contribution increase to be reversed

On 6 April 2022 the national insurance rate increased by 1.25%. This meant that the deduction from an employee’s salary for national insurance contribution increased from 12% to 13.25%. However, from July 2022 most of us should see our national insurance deductions...
The increase in the rate of Corporation Tax

The increase in the rate of Corporation Tax

Last year Rishi Sunak announced an increase in the rate of corporation tax (CT) to be effective from 1 April 2023. The rate will increase from 19% to 25% (or will it? There are some murmurings that a U turn is possible, depends on your view of how to cure inflation...
MTD for Income Tax

MTD for Income Tax

On the 6th April 2024 there are changes coming to the way we report your income tax. The original launch date for this new change was April 2023, however HMRC have extended this a further year. The 6th April 2024 may seem far away, but we would like to get ahead of...
Capital Gains on UK Property

Capital Gains on UK Property

If you sell a residential property in the UK, other than your principal private residence, you may need to inform HMRC within 60 days. This applies to UK properties sold after the 27th October 2021. There are some exceptions to the new rules. You do not need to report...