Remember that if you sell any assets such as shares or property these must be declared on your personal tax return. Everyone receives an £11,700 CGT allowance and then your gains are taxed at 10% for basic rate tax payers and 20% for upper rate. If you sell your business (assets) then you can claim ENTREPRENEUR RELIEF AT 10%.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 25th March 2024
From 6th April 2024 the National Minimum Wage for Employees 23 years and over will rise from £10.42 to £11.44. Please note this is the Employers legal responsibility to check their employees are earning at least this amount and inform the office to amend the payroll if required.