Category Archives: Business

New Tax Year – Round-up of Changes

Personal Tax
The tax-free personal allowance is now £10,600 (was £10,000) but remember employee NICs of 12% start at £8,060.
Higher rate tax starts at £42,385.
At £100,000 the £10,600 personal allowance is gradually reduced and completely taken away at £120,000—marginal tax rate is 60% in this band!

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Budget 2015

Red BoxThis was the final Budget of this parliament and so whilst many of the measures will no doubt be implemented in full, there are always question-marks over promises which may never come to fruition if the current administration do not manage to get sufficient votes in May.

Nevertheless, please see our own summary of the key measures likely to affect you or your small business by clicking here :  Issue 34 Budget 2015