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Big changes are on the horizon for capital gains tax (CGT) in the UK, and it’s crucial to understand how these adjustments could impact your financial decisions. What’s Changing? Effective from October 30, 2024, the rates for capital gains tax will see a notable increase. The lower Capital Gains Tax rate will rise from 10% to 18%, and the higher rate...
Following Labours first Budget, there are some important updates regarding employer national insurance contributions (NICs) and how the government plans to support small businesses during these changes. What’s Changing? To counteract the recent 1.2% increase in employer NICs to 15%, the government is increasing the employment allowance from £5,000 to £10,500. This change also removes the £100,000 threshold, meaning all eligible...
Hello, everyone! We have some important updates regarding business rates that could impact retail, hospitality, and leisure businesses produced by Labours first Budget on 30 October 2024. As we look ahead to 2026, let’s break down what’s changing and how it may affect you. Business Rate Discounts for Retail, Hospitality, and Leisure Starting in 2026-27, the Chancellor has announced a reduction...
Diving into some recent changes produced by Labours first Budget at the end of October that might affect those of you who own or are thinking about getting a double cab pick-up truck. You might remember the stir caused by earlier tax policy shifts, and now Labour is back with updates that will have implications for many drivers and...
