Personal Tax The threshold at which people pay 40% tax will rise from £42,385 to £45,000 in April 2017. Tax-free personal allowance rising to £11,500 in April 2017 0.5% rise in insurance premium tax. Capital Gains Tax Capital Gains Tax to be cut from 28% to 20%, and from 18%...
Below are the key points from George Osborne’s 2015 summer budget in relation to businesses and personal tax changes. Businesses Corporation Tax will be cut from its current rate of 20% to 19% in 2017 and 18% in 2020. National Insurance employment allowance for small firms to be...
Key Features Employers are required to make secondary Class 1 national insurance contributions (NICs) for their employees. From April 2014 every UK business will be allowed an annual employment allowance of £2,000 to offset against their employer NIC liability. This allowance will be mainly beneficial to small...
Today the Chancellor addressed the House of Commons and the televised audience with his forthcoming plans. December is widely accepted as the season for good will so George Osborne had a tough job to deliver the Autumn statement. FISCAL TARGET The Chancellor was forced to admit his...
For another year the Chancellor has been tasked with delivering the government’s plans to restore the country to financial good health whilst juggling the need to continue with austerity cuts, maintain the tax take and keep the voters happy. Naturally my interest is drawn to...