The new tax year starts 6th April 2024 and will end 5th April 2025 and here are some key changes for this upcoming year: National Insurance (NI) Cuts: The income tax rates and thresholds are as follows: England and...
Chancellor Rishi Sunak has announced the contents of his Spring Statement today (23rd March 2022). Amongst his statement he announced he would cut fuel duty, raise the threshold at which people start paying National Insurance and also pledged to...
HMRC announced on 6th January 2022 that they will not charge for late: filing penalties for those who file online by 28th February 2022 payment penalties for those who pay tax due in full or set up a payment...
HMRC have now confirmed the new rates for 2022-23, although the following rates are subject to parliamentary approval. Income Tax Rate – Wales Basic rate 20% £1-£37,700 Higher rate 40% £37,701-£150,000 Additional rate 45% Over £150,000 Income Tax Rates...
Along with a number of updates from HMRC, we can confirm that the new rates for tax year 2022/23 are as follows: SSP weekly rates for sickness will increase from 6th April 2022 from £96.35 to £99.35. Parental leave...
We have recently experienced one of payroll clients contacting us devastated that her accountant had been outsourcing her work to a company in India. The company in India had filed early accounts and ceased her as Director. We advised...
Following the Bank of England’s Monetary Policy Committee vote on 16th December 2021 to increase the base interest rate, HMRC will also be increasing the interest rate for late payments. The base rate has increased from 0.1% to 0.25%...