Category: Tax
6 figure salary club
Are you about to join the 6 figure salary club? Individuals earning between £100,000 and £125,140 a year pay an effective tax rate of 60% on this income. You can avoid this tax with salary sacrifice.
Basis period reform for taxing self-employed
Basis period reform for taxing self-employed individuals comes into effect from April 2024. Unincorporated businesses will be taxed on their profits for the period 6th April to 5th April.
Spring budget changes to self-employed national insurance rates
The Chancellor announced decreases to the national insurance rates for self-employed individuals and employees, which benefits company directors who pay themselves a salary.
Pensions for company directors
Personal pensions are a great vehicle for directors of limited companies to access the reserves of their companies in a tax-efficient manner.
VAT registration threshold
Vat registration and the VAT threshold for registering, plus details of VAT schemes that are available to small businesses.
UK income tax and allowances
Details of the UK tax bands and tax rates with a brief explanation of how marginal tax works. Plus find information about the personal tax allowances available to UK individuals.