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Budget 2025

Budget 2025

As the details of the budget announcements become available we have picked some highlights for you. Income Tax Increases The headline announcement in the budget speech was the increase in Income tax rates on Dividends, Property, and Savings Income. The specific...

MTD for Income Tax: The 6-Month Countdown

MTD for Income Tax: The 6-Month Countdown

The countdown is on. With only six months until the introduction of Making Tax Digital for Income Tax (MTD for IT) now is the time to get prepared. If you’re a self-employed individual or a landlord, this affects you. Ignoring it could lead to penalties and a whole...

Making Tax Digital for Income Tax (MTD for IT)

Making Tax Digital for Income Tax (MTD for IT)

There has been much discussion about Making Tax Digital for Income Tax but what is it and what does it mean for you. What is MTD for IT? MTD for IT is a fundamental change in the way that Sole Traders and landlords report their income to HMRC, moving away from the...

Autumn Budget 2024 Deeper Dive – Businesses

Autumn Budget 2024 Deeper Dive – Businesses

There was a huge amount of information within the budget documents so here are the main points for businesses. What hasn’t changed? The main rate of Corporation tax is still at 25% and appears to be capped for the duration of this parliament Full expensing on capital...

Autumn Budget 2024 Deeper Dive – Individuals

Autumn Budget 2024 Deeper Dive – Individuals

There was a huge amount of information within the budget documents so here are the main points for individuals. What hasn't changed Income tax rates and thresholds remain the same and continue to do so until 2028/29. The government have said that they will then rise...