As the year winds down, many businesses face the challenge of managing holiday payroll. With extra considerations for holiday pay, changing schedules, and seasonal staff, the end-of-year period can quickly…
Read more
Residency-Based Taxation Replacing ‘Domicile’ Concept Significant changes have been announced for UK resident non-domiciled individuals—those who spend substantial time in the UK without intending to settle permanently. Starting 6 April…
Read more
Pension Contributions, Tax-Free Lump Sum, and New Inheritance Tax Rules The Chancellor’s budget left pension tax rules largely untouched. Individuals can still withdraw 25% of their pension as a tax-free…
Read more
Corporate tax rates from 1 April 2025 for the financial year ending 31 March 2026, corporate tax rates and thresholds will remain: The thresholds apply across all companies in a…
Read more
Motor Vehicles: From April 2025, most double cab pickups with a payload of 1 tonne or more will be classified as cars for capital allowance purposes, limiting tax benefits compared…
Read more
For employees the national insurance rates and thresholds for employees in the 2025/26 tax year are as follows: Earnings below the LEL do not qualify for National Insurance contributions or…
Read more
Employers are required to pay at least the National Living Wage for workers aged 21 and over, or the National Minimum Wage for younger workers and apprentices. Minimum hourly rates…
Read more
As expected, and with immediate effect from the budget date of 30 October 2024, the rates of capital gains tax (CGT) have been increased on some asset types as follows:…
Read more