by AJN Accountants | Apr 7, 2023 | Accounting, Advice, FAQs, News, Tax Planning
The Chancellor announced the relaxation of three different pension allowances to encourage older taxpayers to remain an active part of the workforce or to return to employment if they have retired early. The pensions annual allowance provides a cap on the...
by AJN Accountants | Mar 22, 2023 | Accounting, News, Tax Planning
The ‘super deduction’ capital allowances, which provide companies with a deduction of 130% of the cost of new plant and machinery, will end for expenditure incurred after 31 March 2023 as scheduled. The Chancellor has proposed a new system of full...
by AJN Accountants | Mar 18, 2023 | Accounting, Advice, Tax Planning
Do you know whether your national insurance contributions (NIC) record is complete and correct? You can check the NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate of the...
by AJN Accountants | Mar 6, 2023 | Accounting, Advice, Business, FAQs, News
The national minimum wage (NMW) and national living wage (NLW) rates are due to rise significantly for pay periods starting on and after 1 April 2023. These increases – the largest since the NMW began – are being introduced because inflation is running at...
by AJN Accountants | Feb 23, 2023 | Accounting, Advice, Tax Planning
It is widely anticipated that the budget next month may result in big changes to CGT. The Office of TaxSimplification (OTS) has previously produced a report on suggested changes to capital gains tax for individuals and trusts. Amongst the changes they proposed were...
by AJN Accountants | Feb 1, 2023 | Accounting, Advice, Small Businesses
You may have heard of the term ‘pro-rata’, in particular relating to pay for employees. This article will explain what it means and how it is worked out. What is Pro-Rata? Pro rata work is the proportion of earnings based on a full time salary. For example, if a full...
