by admin | Mar 9, 2023 | Uncategorized
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is pro-rated to £11,908 this year following the increase to £12,570 from 6 July 2022...
by admin | Mar 9, 2023 | Uncategorized
Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death and 20% on lifetime gifts. The current IHT nil rate band...
by admin | Mar 9, 2023 | Uncategorized
Barring any unforeseen changes being announced at next week’s Budget, the Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same...
by admin | Mar 6, 2023 | Uncategorized
The ultimate financial objective of most trading companies is to convert their supply of goods and services into cash – deposits in their bank account. However, when goods are sold on credit, and you give customers time to pay, there is a delay in the cash...
by admin | Mar 6, 2023 | Uncategorized
Next week, 15 March, the Chancellor will deliver his first Spring Budget. It will provide an opportunity to cushion companies from the effects of the Corporation Tax (CT) increase to 25% and the withdrawal of the 130% Super-Deduction; both timed for the 1 April 2023....
