by Lorraine Marshall | May 2, 2025 | Accounting & Compliance Updates
As the new tax year begins, several important changes have come into effect. Here’s a quick overview to keep you informed: 1. Employer National Insurance Contributions (NICs) Increase Rate Rise: Employer NICs have increased from 13.8% to 15% on salaries above...
by Lorraine Marshall | Aug 13, 2024 | Tax Changes & Deadlines
Use tax-free childcare account to pay for summer holiday clubs Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child has a disability. This can include paying for a summer holiday club or...
by Lorraine Marshall | Jul 17, 2024 | Accounting & Compliance Updates
The State Opening of Parliament took place on 17 July and the King’s Speech set out the measures that the government intends to introduce during the next session of parliament. Other than a mention of the proposal to remove the VAT exemption for private school fees...
by Lorraine Marshall | Mar 13, 2024 | Money-Saving Tips & Tax Efficiency
It has recently been reported over half a million taxpayers paid a marginal income tax rate of 60% in 2022/23, up by 23% from the number in 2021/22. This marginal rate applies where an individual’s adjusted net income falls between £100,000 and £125,140, where every...
