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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|

The Budget 2024

Chancellor Jeremy Hunt has just finished delivering his Spring Budget 2024, in which he said the Conservatives have a plan to 'grow the economy'. He confidently stated that his Budget will "unleash people power and put this country back on the path to lower taxes. Growth up, jobs up, taxes [...]

2024-03-07T09:01:33+00:006 March 2024|

Tax Basis Period Reform for Sole Traders and Partnerships

If you're a sole trader or a partner in an unincorporated or incorporated partnership, upcoming changes in tax rules may affect you. These reforms alter how businesses like yours are taxed. Overview of the Basis Period Reform HMRC is changing how taxable profits are calculated. Previously, unincorporated businesses were taxed [...]

2024-02-29T10:42:31+00:0029 February 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|
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