One of the most significant advantages of running your own limited company is the control you have over how you withdraw income. Unlike sole traders, who are taxed on all business profits, company owners only pay personal tax on the money they actually extract. By using the right combination of
Autumn Budget 2025: Briefing Paper
Date: November 2025 Prepared For: ACCA Members and Clients Subject: Overview of Key Tax and Policy Changes Executive Summary The Chancellor’s Autumn Budget 2025 aims to stabilize public finances and bolster fiscal credibility through significant tax increases and frozen thresholds. The measures
Budget 2025: The “Stabilisation” Budget – What You Need to Know
Date: 26 November 2025 The Chancellor has delivered the Autumn Budget 2025, positioning it as a plan for "Strong Foundations" and a "Secure Future". While the headline rates of Income Tax, VAT, and National Insurance remain frozen, this is a Budget of significant structural change. The government is
What optimal salary-dividend structure minimizes 2024-25 tax liabilities?
To minimize tax liabilities for the 2024-25 tax year, it is generally most tax-efficient for company directors to take a combination of a low director's salary and regular dividend payments, rather than taking all income as salary. Here's a breakdown of how to optimize this structure: Director's
Key Highlights of the Autumn Budget 2024
Corporation Tax Making Tax Digital (MTD) Rates relief Inheritance Tax (IHT) Capital Gains Tax (CGT) National Insurance and Employment allowance Capital Allowances 'Full expensing' deduction for leased assets VAT Thresholds Furnished Holiday Lettings (FHL)
Spring Budget 2024: Key Points and Upcoming Details – The Chancellor’s Final Spring Statement
This was the Chancellor's final Spring Budget before the upcoming election. He emphasized reforms focused on building a tax system that is: Simple and understandable: Making it easier for everyone to navigate the tax code. Fair and equitable: Ensuring everyone contributes their fair
A guide to the Autumn Statement 2023
The headline message from the Chancellor The Chancellor delivered his Autumn Statement for Growth aimed at building a stronger and more resilient economy. He highlighted that the plan is to “unlock growth and productivity by boosting business investment by £20 billion a year, getting more people
A Guide to the Spring Budget 2023
Corporation tax From April 2023, the planned increase in the corporation tax rate to 25% for companies with over £250,000 in profits will go ahead. Small companies with profits up to £50,000 will continue to pay corporation tax at 19%. Companies with profits between £50,000 and £250,000 will
Autumn Statement 2022
Key Points An expansion to the windfall tax from 25% to 35% Freezing personal allowance thresholds until April 2028 Capital gains tax allowance cut from £12,300 to £6,000 Freeze inheritance tax nil rate bands until 2027–28 Revised the energy support package from April 2023 Dividend
Tax rises – national insurance and dividend rates
The UK Government has announced on 7 September that, from April 2022 the UK will introduce a 1.25% Health and Social Levy, based on national insurance contributions (NIC) ringfenced to fund the investment in health and social care. The levy will apply to the same population and income as class 1