Budget Updates

The tax year end is rapidly approaching, as a reminder its 5th April.  This is the end of the UK tax year, if you’re a limited company you will have your own company year which is separate to the end of the tax year.  Why does it matter? Because the end of the tax year […]

With the changes in corporation tax that came in in April 2023 there are now two rates of corporation tax. 19% if your profits are under £50k and 25% if they are over £250k. There is marginal relief in between those numbers to slowly increase the overall tax to the top 25%.  For a lot

Lets start with the good news, overpaying HMRC or paying them ahead of time will earn you interest of 4.25% from 22nd August 2023. Which in terms of interest rates available isn’t actually a bad one!  There’s loads to consider with the timing of paying your tax bill, but if you do pay it early that

We’ve had the big budget announcement I was waiting for, and sadly it’s pretty pants news for small limited companies! If you’re a sole trader or landlord, good news for you is that not an awful lot is changing. Rates are staying the same apart from your Capital Gains allowance dropping from £12,300 to £6,000.

Autumn statement, budget, oh please no not again. Call it what you wish, there’s been another one. It seems less likely that there will be mind changing on this one, but who knows. This is my quick run down of the facts as they currently stand, I’d like some of the details to change for