Monthly Archives: March 2023

National Living wage and Corporation Tax changes

Among the numerous changes within the UK economy, a few things will be implemented in the coming weeks that will greatly affect people. A few that are worth highlighting are the national living wage and corporation tax changes. National Living Wage changes From April 1st 2023, the National Living Wage increased to £10.42 per hour for those aged 25 and over in the UK. This is a significant change from the previous rate of £9.50 per hour and marks an important milestone in providing a fairer deal for low-paid workers across the country. The National Living Wage is a new […]

Spring Budget – What was announced

All eyes were on The Spring budget of 2023, with Chancellor Jeremy Hunt announcing many measures to help the country recover from its economic woes. From increasing corporation tax and raising billions in investment funds to cut the cost of childcare and setting out plans for infrastructure spending, this Spring budget was an ambitious plan for the future of the UK. But what was announced? Fuel and Alcohol duty frozen One of the most notable measures was the announcement that fuel and alcohol duty would be frozen. This will mean that, for another year, UK drivers can expect to pay […]

Traffic Light System: What the tax points system means

When it comes to tax, you want to ensure that everything is accurate and paid on time, but it is easy for things to slip by, especially during a busy period. The penalties you can be dealt with are a fixed fee, even if it’s your first time dealing with a late payment/submission. This means that repeat offenders and businesses that have made one minor are issued the same fines. This hasn’t been a popular system. If you are one of the many unhappy with this system, you’ll be pleased to know of the new changes HMRC are making. The […]