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Understanding UK Tax Codes

Understanding UK tax codes is essential for ensuring you’re taxed correctly. Here’s a straightforward guide to help you decode your tax code. What is a Tax Code? A tax code is used by your employer or pension provider to work out how much Income Tax should...

UK inflation falls as economy shrinks in May

The UK’s rate of inflation fell to 7.9% in the year to June while the country’s economy shrank in May, according to the latest Consumer Prices Index (CPI) published by the Office for National Statistics (ONS). The inflation rate is currently at its lowest annual rate...

HMRC extends deadline for voluntary NICs to April 2025

HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025. Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions is right for them, and also ensures individuals...

Pension Contributions – the antidote to corporation tax increases?

A great piece by Matt Beck, our friend & colleague over at Smith & Pinching Financial Services. As we settle into the first month of the new tax year, businesses operating as limited companies must start to consider how they are going to plan around the increased main rate of corporation tax, which has now risen from 19% to 25%.