The Prime Minister announced last month that National Insurance contributions (NICs) and the three dividend tax rates will all increase by 1.25% from next April to pay for the social care system in England, writes Pearson May partner Jacqui Bowden. From April 6, the basic rate of dividend tax increases to 8.75% (up from...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Employers and employees to pay 1.25% more NICs Rise in National Insurance to fund development of the health and social care tax. Find out more here Shareholders and directors hit by dividend tax rate rise The three dividend...
Unincorporated businesses could be about to see significant changes to the way they are taxed, following the launch of a government consultation, writes Pearson May partner Matthew Rutter. The government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such as sole traders and partnerships, allocate trading profits...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Pension freedoms age to increase from 55 to 57 Plans to be written into Finance Bill 2022 and take effect from April 2028. What’s changing? Find out more here ‘Cladding tax’ a step closer to 2022/23 introduction HMRC...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Unincorporated businesses could face higher tax bills Consultation aims to align the way self-employed and others are taxed. Find out more here Could NICs rates be about to change for 2022/23? Reports suggest the government might be about...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Is it time to get a low-emission company car? Government grants and generous tax incentives for low-emissions vehicles. Find out more here Applications for ‘fifth-and-final’ SEISS grant open Self-employed taxpayers have until 30 September 2021 to submit their...
Despite the potentially high personal tax charge, many employees still enjoy and prefer the convenience of being offered the use of a company car by their employer and this can also be the case for owner-managed businesses where the directors choose to run their cars through their companies, writes Pearson May partner Matthew Rutter....
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring the top national finance stories. Treasury seeks feedback on business rates revaluations Changes ahead of a comprehensive report due in autumn. Find out more here Retirees set for bumper State pension rise Official forecasts for average wage growth look good for retirees. Click...
Bath accountancy firm Pearson May and Bath Business News team up with each week to bring you the top national finance stories. Where do we stand with the UK’s property taxes? More changes to the UK’s property taxes took effect this month. Find out more here Thousands of savers caught out by pension tax traps Breaches of two pension...
As we have mentioned in some of our previous articles, there was a change last year to the reporting and paying of Capital Gains Tax (CGT) in relation to disposals of UK residential property, writes Pearson May partner Jacqui Bowden. This change came into effect on April 6, 2020, and with the recent boom...
