Guides & Publications
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The whole tax system has grown increasingly elaborate, thanks to revenue-raising tweaks such as the taxation of child benefit and multiple reforms of dividend taxation. As more changes are introduced, the complexities increase.
This guide offers a brief outline of how your investments are currently taxed and future changes (or freezes) that have already been announced. In the wake of the Covid-19 pandemic, government expenditure increased dramatically and tax revenue declined. In the March 2021 Budget, the Chancellor took some significant steps to increase taxes, with many personal tax allowances and bands frozen until 2026 and a six percentage point jump in the main rate of corporation tax from April 2023.
More & Other Musings
View all related contentArticles23 May 2023
If you are self-employed, the new tax year may be longer than you think. If you are self-employed, until 2023/24, you have normally been taxed on the profits made in the accounting year that ends in the tax year. For... Read more
Articles20 May 2023
A recent investigation into Child Trust Funds (CTFs) by the National Audit Office (NAO) has revealed that, disturbingly, nearly £400 million in matured CTFs remain unclaimed. CTFs were opened for some 6.3 million children born between 1 September 2002 and... Read more
Articles12 Apr 2023
More than 12 million taxpayers file self-assessment tax returns, but less than 3% do so using a paper return. Given this low demand, HMRC is reviewing the current paper filing service. HMRC stopped sending out paper tax returns three years... Read more
Guides & Publications16 Mar 2023
The first Budget since October 2021 was widely expected to be an uneventful affair. Five months ago, the then new Chancellor, Jeremy Hunt, presented an Autumn Statement that was more of a Budget than many formal Budgets. Not only did his Autumn Statement result in a greater increase in the tax burden than most Budgets – £55 billion by 2027/28 – it was also accompanied by a Finance Bill.
Guides & Publications16 Mar 2023
Tax rates are often changing, especially after a Budget or Spring Statement. Here you can download a handy and printable tax table PDF