by Ruth Clark | May 8, 2023 | Budget Announcement
The Apprenticeship Levy was first announced in the Summer Budget 2015 and it was later confirmed in the Autumn Statement 2015 that the levy would be introduced from 6 April 2017. Primary legislation was subsequently included in the Finance Act 2016, Pt. 6 (s. 98... 
by Ruth Clark | Apr 26, 2023 | Budget Announcement, Tax
Higher earners have been dealt a blow after the Chancellor changed the level at which the 45% additional rate of tax applies from £150,000 to £125,140. The move takes effect in the 2023/24 tax year and brings the threshold in line with the point at which the personal... 
by Ruth Clark | Apr 19, 2023 | Budget Announcement, Tax
Up to 30 hours of free childcare per week will become available for any child older than nine months from 2024, when there is a staggered introduction starting at 15 hours in April 2024, rising to 30 hours in September 2025. This will be a welcome boost for parents... 
by Ruth Clark | Apr 17, 2023 | Budget Announcement
Employees start paying Class 1 NICs from age 16 (if sufficient earnings). Employers pay Class 1 NICs in accordance with the table below. Employer NICs for apprentices under the age of 25 and employees under the age of 21 are reduced from the normal rate of 13.8% to 0%... 
by Ruth Clark | Apr 12, 2023 | Budget Announcement, Tax
Pensions got a major overhaul in the Chancellor’s Budget announcements, with an increase in the amount you can put into your pension each year and an effective removal of the limit that your pension can reach before facing significant penalties of as much as 55%. Rise... 
by Ruth Clark | Nov 9, 2022 | Budget Announcement, Business
The market volatility resulting from the ill-fated mini-Budget on September 23 has created real concern for investors. Most of the measures announced that day were reversed just weeks later, but the fallout has left markets in a state of turmoil. The FTSE 100 was at...