Guides & Publications
Tax liabilities change as incomes increase
The income tax system has changed significantly in recent years. Until the spring 2021 Budget, governments had focused on increasing the personal allowance. Since then, the focus has been
on freezing the allowance (and the higher rate tax threshold), a covert way to raise additional revenue at a time of high inflation. As a result, the population of income tax payers today is 13%
more than in 2020/21 and is projected to increase another 7% by 2027/28.
More & Other Musings
View all related contentNEW Articles23 Jul 2024
Self-employed workers will see a substantial reduction in their Class 4 national insurance contributions (NICs) for the current tax year after two percentage cuts were announced in the 2023 Autumn Statement and 2024 March Budget.
NEW Articles23 Jul 2024
Companies without a digital invoice processing system in place are leaving themselves open to invoice fraud. Over the past year, nearly a third of businesses have been targeted.
NEW News22 Jul 2024
We are excited to announce that Alliotts’ Guildford office is moving into new premises.
NEW Articles19 Jul 2024
For 2022/23, the tax gap has increased to a record £39.8 billion, with small businesses being blamed for around 60% of uncollected taxes.
NEW Articles17 Jul 2024
With a majority of over 200 and a weight of expectations, what happens next for Sir Kier Starmer’s new Labour government?