How you pay yourself as a director has a direct impact on your overall tax position. With reduced allowances and increased scrutiny, a structured approach to salary, dividends and pension contributions is more important than ever. This guide outlines how to plan your income efficiently from the start of the tax year.
With the new tax year starting on 6 April, this is the right time to step back, review your position, and put a clear plan in place for the year ahead.
From 6 April 2026, there is no further rise in the main employer National Insurance rate. On paper, that sounds like stability. In practice, many employers will still see their National Insurance bill rise. That is because the employer Class 1 NIC rate remains at 15%,...
The Chancellor, Jeremy Hunt, delivered his Autumn Statement whilst being faced with a challenging economic backdrop to his first major set piece, grappling with a combination of over 11% inflation, an official recession and the need to calm markets and re-establish...
It's all to easy for a business owner to say "let's just pay for this through the company". when it comes to personal expenses and bills. At this point, the warning light at your accountant's office is blinking furiously. But why? The company belongs to you and...
There have been many changes to National Insurance Contributions so it’s important to be aware of the changes and how this will affect you. Although the National Insurance rates and thresholds for 2022/23 had already been set, at the time of the Spring Statement in...
If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for expenses. Relief is only available for expenses that you must incur, rather than those that you choose to incur, and the expenses must be...
In recognition of the homeworking requirements imposed by the pandemic, employees who do not receive homeworking payments from their employer are able to claim tax relief for the extra household costs that they have incurred while working from home.
A claim of £6 per week (£312 for the year) will save a basic rate taxpayer £62.40 in tax and a higher rate taxpayer £124.80 in tax.
If you’re fired up about a great business idea but don’t know where to start, we can help.