For many business owners and investors, the headline news from the 2026 Autumn Budget was what did not change. The Government confirmed that the main rates of Capital Gains Tax (CGT) will remain unchanged. After the annual exempt amount of £3,000, gains will generally continue to be taxed at 18% for basic rate taxpayers and […]
Chancellor John Healey’s first Budget was delivered on 28 October 2026 with a clear focus on driving “growth in every postcode”. While many expected major tax reforms, the Budget instead combines a series of targeted measures aimed at encouraging investment, supporting entrepreneurship and maintaining stability for businesses while increasing certain taxes in specific areas. For […]
The UK government has announced that from April 2026, employers will be required to report and pay income tax and Class 1A National Insurance Contributions (NIC) on benefits-in-kind (BIK) via payroll software. This new mandate by HMRC aims to streamline the administrative process, simplify reporting, and enhance digitalization of tax payments related to employment […]
Help to Grow: Management is an initiative designed to bolster the resilience and performance of Small and Medium-sized Enterprises (SMEs), which are crucial to the UK’s economy. Addressing the productivity gap in the UK, this program offers comprehensive training for SME leaders, equipping them with the skills necessary to drive growth and efficiency in […]
The new Labour government has published draft legislation that will subject private school fees to VAT beginning on 1 January 2025. This move, which had been outlined in the Labour Party’s manifesto, removes the uncertainty about how these measures would be implemented and their impact on private schools. The draft measures are currently open for […]
On 22 May, Prime Minister Rishi Sunak announced that a general election will take place on 4 July 2024, triggering a 6-week campaigning period. No pre-election fiscal statement will take place; instead the government is standing on the drop in inflation to 2.3% and the claim that the economy is now improving. WILL THERE BE […]
From 6 April 2024, the 2% cut in employee national insurance contributions will come into effect. Employees will now be deducted 8%, rather than 10%, on monthly earnings between £1,048 and £4,189. A 2% deduction on earnings above this amount continues to apply. There is no change to the rate of employers’ national insurance, which […]
It is important to remember that the minimum wage pay rates increased with effect from 1 April 2024. Failing to increase to the new rates can result in penalties being charged. The new minimum wage payment rates are set out below: 2023/24 rate 2024/25 rate 21 and over (previously 23 and over) £10.42 £11.44 18 […]
The national insurance cuts in the Spring Budget have made most of the Budget-related headlines. So, what is the effect of this on you as an employer? Your employees benefit In last year’s autumn statement, employee’s national insurance was cut by 2 percentage points from 12% to 10%. This change went into effect on 6 […]
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to National Insurance contributions (NICs), following the cuts made in the Autumn Statement 2023. The rates for NICs will be […]
