Sep. 29, 2023
December 12, 2022
The effects of fiscal drag on your tax position
Fiscal drag is the stealthy way in which governments pull more and more taxpayers into higher tax brackets without the backlash that comes with increased tax rates. This is something taxpayers can probably live with when inflation is negligible, but it’s another matter entirely with inflation at over 11%.
December 9, 2022
Capital gains targeted in Autumn Statement
It comes as no surprise that capital gains tax (CGT) was targeted in the government’s Autumn Statement, with the changes forecast to raise some £1.6 billion over the next five years. The annual exempt amount (AEA) will be cut to £6,000 for 2023/24, with a further, permanent, fall to £3,000 from 2024/25.
December 6, 2022
Dissecting inflation: what a difference a year makes
Annual CPI inflation hit 10.1% in September, but that does not mean every price is showing a double-digit increase. Source: ONS The September Consumer Prices Index (CPI) inflation reading is
November 9, 2022
Dividends vs remuneration: the corporation tax quandary
For owner-managed companies, bonuses, dividends and remuneration will become yet more complex in the new tax year. With the corporation tax increase and dividend rates now confirmed by the Government,