It’s taken a global pandemic and a potential world war but the UK is finally scrapping the legacy and utterly bizarre National Insurance thresholds. From July 2022 our income tax and NI thresholds will align.
There’s good news and bad news. Income tax rates generally aren’t increasing. However as inflation steadily rises tax breaks such as your Personal Allowance are now locked in until 2026. Coupled with forthcoming rises in national insurance, corporation tax and dividend rates the net impact for small business owners is a substantial and quite sneaky tax increase over the next few years.
The 2021/22 tax year in the UK runs from 6th April 2021 to 5th April 2022. Tax returns for this tax year are generally due by 31st January 2023. Here are some of the most common at-a-glance figures you might find useful for the tax year.
The 2020 budget has been long awaited. Delayed due to Brexit shenanigans, scuppered by a general election, complicated by a change of chancellor and then almost entirely wiped out by a global pandemic, this has been a hard one to get across the line. Across the line it is and Rishi Sunak did an admirable job. So what does it all mean for you hard working self employed folk out there? Let’s find out!
The 2020/21 tax year in the UK runs from 6th April 2020 to 5th April 2021. Tax returns for this tax year are generally due by 31st January 2022. Here are some of the most common at-a-glance figures you might find useful for the next tax year.
The 2019/20 tax year in the UK runs from 6th April 2019 to 5th April 2020. Tax returns for this tax year are generally due by 31st January 2021. Here are some of the most common at-a-glance figures you might find useful for this tax year.
The 2018/19 tax year in the UK runs from 6th April 2018 to 5th April 2019. Tax returns for this tax year are generally due by 31st January 2020. Here are some of the most common at-a-glance figures you might need for this tax year.
The 2017/18 tax year in the UK runs from 6th April 2017 to 5th April 2018. Tax returns for this tax year are generally due by 31st January 2019. Here are some of the most common at-a-glance figures you might need for this tax year.