Resources

Tax

UK Tax Rates, Tax Allowances and Tax Bands 2022/23

The UK financial system features a broad range of tax brackets, allowances and earnings thresholds that apply to both private individuals and organisations alike. Businesses in particular need to be continually mindful of what the Government expects of them to ensure that they remain compliant and avoid any enforcement action from HMRC. Without an in-depth […]

Kieran Burge June 10, 2022

Tax

What is Private Residence Relief and its impact on Capital Gains Tax?

If you are selling a property in the UK that isn’t your main residence, you will normally be required to pay Capital Gains Tax (CGT) on any financial gains you make from the sale. Capital gains tax on residential property may be 18% or 28% of the gain, not the total sale price. HMRC provides […]

Kieran Burge April 26, 2022

News

Spring Statement 2022 – Key Points Announced by Chancellor

On March 23rd, 2022, the Chancellor of the Exchequer, Rishi Sunak, presented the Spring Budget and Spending Statement to parliament for consideration and review. Unlike the Autumn budget, the increasing geopolitical tensions between Russia, Ukraine, the UK, and the greater EU were of primary concern in compiling —and presenting— the 2022 Spring Statement. The current […]

Kieran Burge April 7, 2022

Tax

Making Tax Digital for Income Tax

The government launched the Making Tax Digital (MTD) programme on 1st April 2019. The programme aims to usher in a new era of a fully digital tax system, which will allow taxpayers to report their tax liabilities and keep digital records more efficiently. HM Revenue and Customs (HMRC) states that the move will minimise taxpayer […]

Kieran Burge November 24, 2021