KRW Tax news
Class 2 nic for the self-employed abolished from April 2024
KRW Tax newsMarch 29, 2024|In KRW Tax news|By Keith WitchellSelf-employed workers with annual profits over £12,570 currently pay a fixed rate Class 2 NIC charge of £3.45 per week (£179 pa), but the…
Main rate nic cut from 12% to 10% for employees from January 2024
KRW Tax newsMarch 29, 2024|In KRW Tax news|By Keith WitchellChancellor Jeremy Hunt announced earlier this afternoon that the main rate of National Insurance that applies to salaries between £12,570…
High income child benefit charge thresholds changes from April 2024
KRW Tax newsMarch 29, 2024|In KRW Tax news|By Keith WitchellIn the Spring Budget earlier this month, Chancellor Jeremy Hunt announced that the income threshold for paying back Child Benefit will…
45% tax threshold reduced from £150,000 to £125,140 from April 2023
KRW Tax newsJuly 10, 2023|In KRW Tax news|By Keith Witchell In the Spring Budget, Chancellor Jeremy Hunt announced that the additional rate threshold for income tax would be reduced from £150,000 to…
Pensions lifetime allowance abolished & annual allowance up to £60k
KRW Tax newsApril 2, 2023|In KRW Tax news|By Keith WitchellIn last month’s Budget, Jeremy Hunt announced the end of the lifetime allowance for pensions, plus an increase in the annual allowance for…
Plan to promote investment, training & innovation arrives Autumn 2022
KRW Tax newsMarch 16, 2023|In KRW Tax news|By Keith WitchellA 3 point plan was also announced to boost productivity and growth in the private sector, which will include more tax incentives for…
National insurance threshold increased by £3K pa from July 2022
KRW Tax newsMay 7, 2022|In KRW Tax news|By Keith WitchellAmidst rapidly rising cost of living, and the already announced 1.25% National Insurance hike from April, Rishi Sunak announced some welcome…
£1M annual investment allowance extended to March 2023
KRW Tax newsMarch 20, 2022|In KRW Tax news|By Keith WitchellThe current £1m annual investment allowance which allows businesses to claim tax relief on 100% of capital expenditure has been extended by…
0% VAT on energy saving home improvements
KRW Tax newsMarch 12, 2022|In KRW Tax news|By Keith WitchellThe Chancellor referred to post-Brexit freedoms allowing a reform of the eligibility conditions to qualify for reduced VAT on the…
Commitment to cut basic rate income tax to 19% by 2024
KRW Tax newsMarch 10, 2022|In KRW Tax news|By Keith WitchellThe Chancellor also confirmed the government’s commitment to reduce income taxes by the end of parliament by announcing the first cut to…