28 November 2023
On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament and started making, in his words, the long-term decisions necessary to strengthen the
Read more
28 November 2023
For employees In addition to income tax, all employees earning more than £12,570 a year pay Class 1 NICs. The main rate of Class 1 NICs
Read more
28 November 2023
The government will uprate all working age benefits for 2024/25 by the September 2023 Consumer Price Index (CPI) of 6.7% and will continue to protect pensioner
Read more
28 November 2023
The biggest ever increase to the National Living Wage has been announced, with the government fully accepting the recommendations made by the Low Pay Commission. Eligibility
Read more
28 November 2023
Tax Relief for expenditure on plant and machinery The Annual Investment Allowance (AIA) is now permanently set at £1million. This means that businesses can claim tax
Read more
28 November 2023
‘Stealth’ increases The personal allowance and basic rate band threshold are still frozen at their 2021/22 levels and, subject to the outcome of the next general
Read more
28 November 2023
The government has announced a comprehensive package of pension reforms that aim to provide better outcomes for savers, drive a more consolidated pensions market and enable
Read more
28 November 2023
The capital gains tax annual exemption is set to drop to £3,000 in 2024/25, down from £6,000 in 2023/24. This change will mean that those selling
Read more
28 November 2023
The inheritance tax nil rate band continues to be frozen at £325,000 until April 2028. The residence nil rate band will also remain at £175,000 and
Read more
28 November 2023
Rates from 1 April 2024 From 1 April 2024, the rate of Corporation Tax will continue to be 25% if a company’s profits exceed £250,000 a
Read more
28 November 2023
National Insurance Contributions (NICs) Like the main income tax bandings, employer and employee NIC thresholds are now also frozen until 5 April 2028. This broadly means
Read more