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Income Tax won’t rise according to Treasury minister – but could a further freeze be on the way?

Income Tax won’t rise according to Treasury minister – but could a further freeze be on the way?

by Gary Woosey | Jul 15, 2025 | Blog

With speculation increasing and showing no signs of slowing down surrounding the potential for Rachel Reeves’ Autumn Budget to increase taxes, one Treasury Minister has spoken today, suggesting the ‘headline’ rate of income tax will not increase later this year. While...
Earn extra income? HMRC urges you to file your tax return early

Earn extra income? HMRC urges you to file your tax return early

by Gary Woosey | Jul 8, 2025 | Blog

If you have made more than £1,000 from a side hustle last year, you might need to tell HM Revenue & Customs (HMRC), and the earlier you do it, the better. HMRC is now urging people with extra income to check if they need to register for Self-Assessment and file a...
Software-only filing and more disclosures – Major changes for small companies

Software-only filing and more disclosures – Major changes for small companies

by Gary Woosey | Jul 1, 2025 | Blog

If you run a limited company, it is important to be aware of some major changes coming to the way company accounts are filed. These changes are part of new legislation, the Economic Crime and Corporate Transparency Act (the Act), and they will affect small companies...
Two sides of the tax story – National Insurance up, Capital Gains Tax down

Two sides of the tax story – National Insurance up, Capital Gains Tax down

by Gary Woosey | Jun 24, 2025 | Blog

The latest tax data for the first months of the 2025/26 tax year shows mixed trends. Employers’ National Insurance contributions (NICs) are sharply up, rising by nearly £2 billion in a single month, while Capital Gains Tax (CGT) receipts have fallen compared to the...
With Tax Freedom Day now in mid-June, are business owners paying more than their fair share?

With Tax Freedom Day now in mid-June, are business owners paying more than their fair share?

by Gary Woosey | Jun 17, 2025 | Blog

For many business owners, the phrase Tax Freedom Day may sound abstract, but it is a concept that is becoming increasingly relevant. This year, Tax Freedom Day in the UK fell on 11 June, meaning that for the first 162 days of 2025, every penny earned by the average...
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