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Tax News – Winter 2023

NATIONAL INSURANCE RATES CUTThe Chancellor has announced cuts to national insurance contributions (NIC) for self-employed taxpayers and employeesThe headline news from the Autumn Statement was the reduction of primary Class 1 and Class 4 NIC and the remov ...

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Tax News – Spring 2023

PLANNING DIVIDENDS IN 2023 Owners and directors of family businesses often take a small salary from the company and any extra funds as dividends The first £2,000 of dividends received by each taxpayer is currently tax-free but that dividend allowance will ...

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Tax News – Winter 2022

DIVIDEND TAX Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions This can make taking income from your own company in the form of dividends far more attractive than paying yoursel ...

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Tax News – Spring 2022

CRYPTOASSETS ARE TAXABLE In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens If you decide to go digital with your investments, think about how the profit or ...

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Autumn Budget 2021

NATIONAL MINIMUM WAGE RATES RISE The national living wage (NLW) will rise to £9.50 per hour for pay periods starting on and after 1.4.22 along with the other national minimum wage rates The apprentice rate will rise significantly by 11.9% to £4.81 and wil ...

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June 2021 Newsletter

BEWARE OF MINI UMBRELLA COMPANIESUmbrella companies employ temporary workers such as contractors on behalf of employment agencies or very large companiesAn umbrella company should provide each worker with an employment contract and payslips. It should als ...

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2021 Budget Key Points Guide

CORPORATION TAX COMPLEXITY The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22 Large companies will then see their corporation tax rate rise from 19% to 25% from 1 April 2023. ...

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June Newsletter

SELF-EMPLOYED GRANTS If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500 To qualify for this self-employed income support scheme (SEISS) you must meet all of t ...