Autumn statement

24 Nov

By PMC Partnership Taxation

Autumn statement

The Autumn statement yesterday was pretty uneventful, confirming lower UK growth due to Brexit.

The main points were the following :

The personal tax allowance will rise to £12,500 and the upper rate tax threshold to £50,000 by the end of the current parliament
The National Living Wage will rise from £7.20 to £7.50 from April 2017
Insurance premium tax will rise from 10% to 12% in June 2017
Employee and Employer NI will be equalised to a £157 per week threshold from April 2017
Corporation tax will be reduced to 17% by 2020
There were NOT the anticipated changes to stamp duty

07 Dec

Auto enrolment Pensions. Please note that from April 2019 auto enrolment pension contributions will be increasing again. The employer... read more

11 Jan

National Insurance (NI) types. If you are PAYE you pay Class 1 NI at 12% of earnings between £168-£892... read more

18 Sep

Employees may be able to claim tax relief if they are working from home for their Employer. From April... read more

31 Jan

If you are an employer and employee staff over 22 years old or earning over £10,000 you must offer... read more

29 Jan

Remember to pay your personal self assessment tax by the 31st January 2019. But you do actually have 30 days from... read more

28 Nov

Many clients are set up to pay the minimum tax and National Insurance, by paying a low wage and... read more

17 Jul

Remember to pay your second payment on account for personal 2020 tax by 31st July. Personal tax payments are... read more

30 Aug

Stamp duty is the tax paid by the purchaser when buying a property, at the time of purchase. Currently... read more

12 Mar

The biggest points to affect a small business in yesterdays budget were : A Tax cut for 31 million people... read more

15 Dec

Marriage Tax Allowance Please remember about this forgotten tax break available. If your income was below £10,600 for the tax... read more