by Paul Whyatt | Jan 27, 2025 | Business Tax, Taxation
As announced in the Autumn Budget, the national minimum wage (NMW) and the national living wage (NLW) are set to increase from April 2025. The hourly rate will depend on the worker’s age and whether they are an apprentice. Age of workerHourly rate from 1 April...
by Paul Whyatt | Jun 11, 2024 | Business Tax, Personal Tax
The higher rate of capital gains tax (CGT) for residential property disposals was reduced from 28% to 24% from 6 April 2024. The lower rate remains at 18% for any gains that fall within an individual’s unused basic rate band. The annual exempt amount was lowered as...
by Paul Whyatt | May 31, 2024 | Business Tax, Personal Tax, Taxation
The reporting requirements for employers providing salary/wage advances to employees changed from 6 April 2024. HMRC concluded that regulations requiring multiple RTI returns from employers are burdensome and can result in PAYE coding or Universal Credit errors. From...
by Paul Whyatt | May 24, 2024 | Personal Tax, Taxation
The threshold for earnings above which you have to pay back some or all of your child benefit increased from 6 April 2024 with a full overhaul of the regime promised in April 2026. Until 6 April 2024, if you or your partner received child benefit and your adjusted net...
by Paul Whyatt | Mar 14, 2024 | News, Personal Tax
Two new savings products have been announced, aimed at supporting growth of UK companies and encouraging a culture of saving. Individuals can currently deposit up to £20,000 each year into an individual savings account (ISA). This is a sensible move as any interest...
