The 2023/24 tax year ends on the 5th of April 2024 and now is the perfect time to make sure you are making the most of your pension. We’ve compiled a list of top tips to help you boost your pension savings before the end of the 2023/24 tax year.
Contractors paid weekly, fortnightly or every four weeks and whose final payday for the 2023/24 tax year falls on Thursday the 4th of April 2024 or Friday the 5th of April 2024, may be affected by the week 53 payment.
With 2024 just around the corner, we decided to collate some of the tax and pension changes coming in the new year.
Jeremy Hunt is set to outline his tax and spending plans for the year ahead on Wednesday 15th March 2023, as part of the Spring Budget.
Chancellor Jeremy Hunt outlined three priorities of stability, growth and public services as part of his Autumn Statement. Continue reading to discover the key announcements made in the Autumn Statement.
As part of the Growth Plan 2022, the government confirmed that the reforms to the IR35 off-payroll working rules will be abolished from the 6th of April 2023.
Chancellor Kwasi Kwarteng announced during the mini-budget delivered on the 23rd of September 2022 that the government will repeal the 2017 and 2021 off-payroll reforms. Continue reading to discover what this means for contractors and the other critical announcements unveiled during the mini-budget.
Your tax code is used to determine how much tax-free income you will be allocated per year and how much tax is due on your earnings or pension once you have exceeded the threshold. Continue reading to discover what your tax code means, how to check it and what to do if you think your tax code is wrong.
Once your income exceeds £100,000, the tax-free personal allowance is gradually reduced until it is eliminated in full. Continue reading to learn more about the Abatement of the Personal Allowance and how to preserve your entitlement to the allowance.
Recently, we have received a couple of queries from contractors who have never completed a starter checklist for PAYE before and are unsure which statement applies to them. Continue reading as we outline what each statement means and in which scenario it would apply to you.