Welcome to our latest monthly tax newswire. We hope you enjoy reading this newsletter and find it useful. Contact us if you wish to discuss any issues further. HAPPY NEW TAX YEAR In this April issue we highlight some of the key tax changes that take effect from the start of the new tax year. Unfortunately, most of the income tax and national insurance thresholds continue to be frozen, resulting… Read more
Welcome to our latest monthly tax newswire. We hope you enjoy reading this newsletter and find it useful. Contact us if you wish to discuss any issues further. YEAR END TAX PLANNING It’s not too late to undertake some end of year tax planning. If you have some spare cash, an obvious tax planning point would be to maximise your ISA allowances for the 2023/24 tax year (currently £20,000 each).… Read more
Happy New Year and welcome to the January edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. NEW YEAR RESOLUTIONS TO SAVE TAX At this time of year, we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th… Read more
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 economy and build a brighter future. Fueled by falling inflation and stabilised public finances, focus is now being applied to reducing debt, cutting tax and rewarding hard work. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the ‘biggest… Read more
Welcome to the November edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. SALARY OR DIVIDEND BEST IN 2023/24? In recent years many accountants have advised their director/shareholder clients that the most tax efficient method of extracting profit from their family company was to pay themselves a low salary, at or around the £12,570 personal… Read more
Welcome to the October edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. IT’S IMPORTANT TO HAVE UP TO DATE PROFIT FORECASTS FOR TAX In order that we can help predict your taxable profits and tax liabilities we need up to date profit figures and projections. One of the advantages of keeping your business accounts… Read more