According to the published tax tables, the highest rate of income tax is 45%, payable on all earnings over £150,000.
However, this masks a rather unpleasant shock which comes if your income is just over the £100,000 mark—that of an effective tax rate of 60%. Ouch!!
With employment supposedly rising and business confidence increasing, you might be considering expanding your workforce in the coming months. One of the questions I am often asked is “What will it cost to employ someone in my business?” So here is a little summary of the key points to consider, PLUS some details on a couple of government initiatives that are on the horizon to reduce that cost. Continue reading
As I write this post on what has been dubbed “Blue Monday”, I just can’t understand that rather depressing sentiment at all. Rather than being depressed at being back at work after a wonderful break (for us it was a short trip to Paris!), I am truly excited to get stuck back in. There is so much positive sentiment around— the economic outlook and business confidence is reportedly up, unemployment is going down and I personally feel a new energy as I look forward to 2014.