Category: Personal Tax
Changing from Sole Trader to Limited Company: Your Step-by-Step Blueprint
Are you running a sole trader business that's making £50,000 yearly profits? At the time your earnings hit this threshold, switching from sole trader to limited company status becomes a smart financial choice. Your growing business might make you think about changing to a limited company structure to save on taxes. In fact, the switch...
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2025/2026 Tax Rates and Allowances
The tax year runs from 6 April. Here’s an overview of the main tax rates, allowances and national Insurance contributions that you need to be aware of for the tax year starting 6 April 2025. If you have any questions, would like to understand what rates specifically apply to yourself, or what allowances are available, please get in t...
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Spring Statement 2025
On Wednesday 26th March 2025, Chancellor Rachel Reeves delivered her Spring Statement. In terms of announcements for the average person, it was fairly low key with many of the announcements more aimed at a national level in terms of defence spending, overseas aid, etc. That said, there were of course still announcements to be aware of. An...
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Changes from 6th April 2025
As we approach the start of a new tax year, there are several changes coming into play that you may not be aware of. In this article we breakdown the main changes. Changes in Employers National Insurance Contributions/Employment Allowance If you’re an employer with a National Insurance Contributions (NICs) liability, or with employees...
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National Minimum Wage vs Living Wage: Key Differences Explained
You’re probably familiar with the terms minimum wage and living wage. But do you know what the differences are between them? In this article we run through all the differences and what you might need to be aware of. Understanding the Three Wage Types The UK has three different wage types that everyone should know about: the Nationa...
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Autumn Budget 2024
This week new Chancellor Rachel Reeves announced both her first Budget & also the first of the new Labour government. On that note, it feels like almost every time we write about the Budget Statement in recent times we have to make reference to a new Chancellor. With the Labour Party only recently elected, hopefully this time we may g...
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Understanding Marriage Tax Allowance: A Complete Guide
Are you curious about the tax benefits of marriage? The marriage tax allowance is a valuable opportunity that many couples overlook. This helpful provision allows married couples and civil partners to transfer a portion of their Personal Allowance to their spouse, potentially saving hundreds of pounds each year on their tax returns. Un...
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A Labour Promise
As far as General Elections go, the indications as to which party would succeed was fairly obvious from the off. The polls predicted a Labour win early on, and very little changed throughout. And so, after 14 years in charge, the Conservatives are out and now it’s over to Keir Starmer and Labour to get the Country back on track. S...
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Understanding the Differences: Accountant vs Financial Advisor vs Mortgage Broker
In the complex world of finance, it's easy to feel overwhelmed by the different roles that professionals play. It can be confusing to understand what each professional does and how they can help you. In this blog, we're going to break down the roles, highlighting their similarities, differences, and how each can support your needs. Under...
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HMRC is Cracking Down on Side Hustles
There’s been a bit of a commotion recently from people who sell their old clothes on sites such as Vinted and Ebay. The reason being that it was recently announced that with effect from 1st January this year that these online platforms would need to start passing information about you onto HM Revenue & Customs (HMRC). Many have v...
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