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New tax year 2025/26
The government has introduced several significant tax changes for the upcoming 2025/26 tax year, affecting both individuals and businesses. This leaflet outlines the most important updates, particularly for residents of England, Wales, and Northern Ireland. Unfortunately, this marks another year of stealth tax increases, primarily through the freezing or reduction of tax-free allowances. INCOME TAX…
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Gaps in NI Contributions and Your Pension
Your State Pension is an important source of retirement income in the UK, but gaps in your National Insurance (NI) record can reduce it. These gaps occur when you do not pay NI contributions in a given year. Good news? You can fill these gaps! Below you’ll find information on how these gaps affect your…
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The autumn budget and crypto gains
The recent sharp appreciation in cryptocurrency prices, particularly Bitcoin, has encouraged many investors to consider selling their holdings. However, if you’re thinking about cashing in on your profits, it’s important to understand how the recent changes to Capital Gains Tax announced in the Autumn Budget will impact what you owe. These changes, which were introduced…
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How do the UK pensions work?
The pension system in the United Kingdom is based on employee contributions and statutory entitlements. UK citizens and individuals from other countries must meet some requirements to qualify for a pension. The rules outlined below regarding the UK pension system cover key aspects such as the number of qualifying years, types of contributions, retirement age,…
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Autumn Budget of 2024?
In the Autumn Budget of 2024, the UK government introduced several significant changes across various tax and financial areas: Minimum Wage: Effective from April 2025, the National Minimum Wage for individuals aged 21 and over will increase by 6.7%, rising from £11.44 to £12.21 per hour. National Insurance: Starting April 2025, employers’ National Insurance Contributions…
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UK limited company
A private limited company is one of the most popular business ownership structures in the United Kingdom, offering several advantages not found in other legal forms. Key Characteristics Unlike a sole proprietorship (sole trader) or a partnership, a private limited company has a legal identity separate from its owners. This means the company exists independently…
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Tax residency of a company
The issue of corporate tax residency is crucial for entrepreneurs deciding to establish a company abroad, particularly in the United Kingdom. A company’s tax residency determines the jurisdiction in which the company must pay tax on its entire income, regardless of where the income was actually generated. In the UK, a company’s tax residency is…
