News

For most taxpayers, the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers both contributions by the individual and by their employer.…

The MMG Christmas Grotto is now open for donations! Over the past seven years, the team at MMG have supported Help for Kids with their Christmas gift appeal, and we’re delighted to…

For all individuals, the first £2,000 of dividend income is taxed at 0%. The government have now decided that this 'dividend allowance’ of £2,000 will be reduced to £1,000 in…

Employers will be relieved that there are no more changes to NIC rates and bandings or consequential payroll software changes! Like the main income tax bandings, NIC thresholds are now…

For those provided with an electronic or ultra-low emission company car (emitting less than 75g of CO2 per kilometre), there will be annual increases in the benefit-in-kind percentages, and therefore…

The Chancellor has again expressed concerns about the alleged abuse of Research & Development (R&D) tax reliefs. Alongside plans to merge two existing schemes in the future, he announced that…

Many were predicting that the rates of Capital Gains Tax (CGT) paid by individuals would increase to align with the rates of income tax. Instead, the Chancellor has announced that…

Pensioners and those receiving means-tested benefits will be relieved that their 2023/24 payments will be updated in line with the inflation of 10.1%. There will also be further support for…