2024/25 tax year rates and allowances 

National Insurance and Tax Tax-free personal allowance – £12,570 Basic rate – 20% – up to £37,700 Higher rate – 40% – from £37,701 to £125,140 Additional rate – 45% – above £125,140 National Insurance Rates Primary threshold - £12,570 [...]

2024-04-18T10:45:32+01:0025 March 2024|

Understanding cryptoasset taxes in the UK

Whether you currently own cryptoassets, or you have done previously, it's crucial to understand the tax implications and what you might owe to HMRC. In this blog, we’ll delve into the rules surrounding crypto tax and explore how you can stay compliant. HMRC’s stance on crypto tax HMRC initially likened [...]

2024-01-24T15:18:17+00:0010 December 2023|

The Autumn Statement 2023

Chancellor Jeremy Hunt has just finished delivering his Autumn Statement 2023, which he’s hailed a ‘huge boost’ for British competitiveness in his statement for growth. A series of measures were announced with the ‘overall impact of £20bn a year within the decade – the biggest ever business boost for [...]

2024-01-15T10:28:45+00:0022 November 2023|

Can you claim your festive celebration as a business expense?

The festive season is approaching and many Limited Company directors are starting to prepare for their yearly celebrations. Fortunately, HMRC recognises staff entertainment as a valid business expense, but your festivities need to follow certain rules to qualify for tax and National Insurance exemption. What are the rules?  To be [...]

2024-01-15T10:28:45+00:009 November 2023|

How much tax can you expect to pay on an electric car?

In recent years, electric cars have become increasingly common on our roads. Charging points are now a familiar sight in supermarket and office car parks, as well as private driveways. And with Government targets for all cars to be hybrid or electric by 2030 and 100% electric by 2035, it [...]

2024-01-15T10:28:46+00:0018 July 2023|

The Spring Budget 2023

Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will [...]

2024-01-15T10:28:46+00:0016 March 2023|
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