by Paul Whyatt | Mar 10, 2023 | Personal Tax, Taxation
The annual capital gains exemption (currently £12,300) may cover most of the capital gains that you make on your share portfolio. However, that exemption will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024. If you are planning to make large capital gains in...
by Paul Whyatt | Mar 6, 2023 | Business Advice, Business Tax, Personal Tax, Taxation
Owners and directors of family businesses often take a small salary from the company and any extra funds as dividends. Other family members may also hold shares in the company and receive a dividend each year. Currently, the first £2,000 of dividends received by each...
by Paul Whyatt | Mar 6, 2023 | News, Personal Tax, Taxation
Do you know whether your national insurance contributions (NIC) record is complete and correct? You can check your NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate of the...
by Paul Whyatt | Nov 3, 2022 | Business Advice, Business Tax, Taxation
As an employer you’ll soon need to implement the new NI rates. What actions should you take to ensure that your payroll software can cope? The 6 November is the date on which the new reduced NI rates apply. However, the new rates only apply when you run your payroll...
by Paul Whyatt | Nov 3, 2022 | Business Tax, Taxation
One of the few changes announced in the now notorious mini-budget was the reversal of the 1.25% increases in national insurance contribution rates, which were introduced from 6 April 2022. The rates of Class 1 NIC are taken back to the levels that were in place on 5...
