Taxation

Dividend Taxes to Increase from April 2022

Dividend Tax Increase

Dividend taxes are to increase in April 2022. This will affect small business owners who trade as a Limited company. It has been well publicised in the mainstream media that National Insurance contributions are to increase by 1.25%. This increase is to pay for the increased costs of social care and will commence in April …

Dividend Taxes to Increase from April 2022 Read More »

Married Couples Allowance – Claim your £251 Tax Free Cash

The married couples allowance for 2021/22 is £251. This is tax free cash which an estimated over 2 million couples don’t claim. Better still, you can claim back for the previous 4 tax years. As a result the total tax rebate can be as high as £1,219. This total is explained later. WARNING: Don’t use …

Married Couples Allowance – Claim your £251 Tax Free Cash Read More »

Budget 2021 – Business Taxes, New Grants and Support

Corporation tax rate rises, super deduction for qualifying assets, restart grants, new self-employment grants and extension of Furlough. The 3rd March 2021 budget for businesses was packed with many tax changes. Some good and some bad for businesses. We go through the key announcements from the budget below. It includes how the budget will affect …

Budget 2021 – Business Taxes, New Grants and Support Read More »

Budget 2021 – The Big Freeze on Personal Tax Allowances

The Budget 2021 and the big freeze on personal tax allowances! The UK Budget was announced on Wednesday 3rd March 2021. Many had expected tax rises to pay back the deficit caused by the pandemic. Although many tax rises were avoided, the big freeze on tax free allowances over the next 5 years will effect …

Budget 2021 – The Big Freeze on Personal Tax Allowances Read More »

Corporation Tax Rises by 6% – Calculate Your Increase

Corporation tax is due to rise from 19% to 25% in April 2023. Try our calculator below to see how much extra tax you will pay? In the March 2021 budget the Government announced a corporation tax rise of 6%. This applies to businesses with profits exceeding £250,000. For businesses with profits under £50,000, the …

Corporation Tax Rises by 6% – Calculate Your Increase Read More »

Furlough Scheme Extension – See the monthly changes

The Government have announced several extensions to the furlough scheme. The latest announcement was in the budget on 3rd March 2021, which extended furlough right through to the end of September 2021. The furlough scheme is also known as the job retention scheme. Furlough Scheme Extension Changes Below is a timeline showing how the Government …

Furlough Scheme Extension – See the monthly changes Read More »

Tax Code 1257L – How to Check Your Tax Code is Correct?

Tax code 1257L will be the most common tax code for the tax year 2021/22. It is expected to be unchanged until 2026. It replaces tax code 1250L, which was the most popular tax code for the last 2 tax years (2019/20 and 2020/21). Most taxpayers will receive an updated tax coding notice from HMRC …

Tax Code 1257L – How to Check Your Tax Code is Correct? Read More »

Examples of Tax Payable on Bitcoin Profits

Bitcoin and other cryptocurrencies have increased significantly in value over the last few years. At the time of writing on Thursday 11th February 2021, a Bitcoin is priced at $45,531. As a result of this significant growth, many investors are looking to cash in on some of their accumulated profits. The tax on bitcoin in …

Examples of Tax Payable on Bitcoin Profits Read More »

Exit mobile version