Category Archives: Personal Tax

How we can assist with a tax investigation from HMRC

Tax investigations are expensive, intrusive and stressful. The cost of an enquiry can seriously impact your financial security, and your health Register here if you’d like to be included in our tax investigation insurance from 1 April 2023 to 31 March 2024. No business is too small or too large for HMRC to challenge, but […]

Budget Announcements November 2022

Autumn budget 2022

The new Chancellor, Jeremy Hunt announced the latest budget on 17 November 2022. Mr Hunt introduced his statement with “British families make sacrifices every day to live within their means, and so too must their Government, because the United Kingdom will always pay its way” The day before the Budget announcement, the Office for Budget […]

The Spring Budget 2022

** Please see our updated blog following the Government’s Mini Budget in September 2022** The Chancellor announced the Spring Budget today, so what are the most crucial updates? He did announce most changes in his Autumn Budget, so what’s new?   National Insurance threshold rising The threshold increases from £9,880 to £12,570 from 1 July […]

Dividend Tax is Changing from April 2022

dividend tax

In the Autumn Budget 2021, it was announced that Dividend Tax would be increasing by 1.25 percentage points. But what does that mean to you? **17 November 2022 update. The Autumn Budget announced today confirms that dividend tax increases will remain in place. What’s increasing? Dividend tax is increasing as follows: Basic rate: From 7.50% […]

5 Top Tax Tips to Pay Less Personal Tax

It’s nearly the end of the tax year, but you still have time to make a difference to your tax bill! We’ve put together our 5 top tax tips to help you to pay less personal tax. If you’re looking for ways to reduce your business tax, then we have you covered too, with our […]

Autumn 2021 Budget: what does it mean for your small business?

The Autumn Budget 2021 was announced on 27 October 2021, but what does it mean for your small business? Well, for starters, most of the main announcements were leaked in the days leading up to the Budget, and some changes for 2022 onwards were announced in the Spring Budget 2021. But let’s look at the […]

Questions on the 80% HMRC grant for furloughed employees

The Chancellor announced on Friday 20 March 2020 that any employees being furloughed (temporarily laid off) would be paid 80% of their wage, under a new Job Retention Scheme, so here’s what we know so far. Please check out our main Stay Positive COVID19 page for other info. We also have a specific page for […]

New financial help for the self-employed

Tonight’s announcement from the Chancellor has been long-awaited.   Last week we heard of the Coronavirus Job Retention Scheme, and the self-employed have been waiting since then for something similar. It has been an anxious time, but tonight’s announcements brought new financial help. So here are the details that we know: You will be funded […]

Should I buy an electric car through my business?

If you’ve seen our earlier blog on buying cars through your business, our answer is usually NO! However, new rules for electric cars came into force in April 2020, making buying an electric car through your business far more attractive! So to understand the current rules around cars and your business, have a read of […]

How much tax do you pay if you’re a foster carer?

You’ve made the decision to become a foster carer, but what how much income could you receive, and how much tax  do you pay? If you’re still thinking about becoming a foster carer, and you’re in North Wales or the North West of England, we recommend that you talk to 1st Affinity Fostering Service, who […]