Summer Statement July 2020

On 8th July 2020, Chancellor has delivered his summer economic plan to help the UK economy recover from the impact of the coronavirus pandemic. Here is a summary of the main points: Job retention bonus’ to encourage firms to retain furloughed staff  A one-off £1000 payment to employers for every furloughed employee retained to […]

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Budget 2020 Highlights

Personal Allowance and Income Tax thresholdsThe Personal Allowance for the 2020/21 tax year is not expected to change and will remain at £12,500 – this is tax-free and is applied throughout the UK. National Living WageThe national living wage hourly rate for over-25s will increase by 50p to £8.72. Annual Pension AllowanceThe pension annual allowance […]

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Budget 2018: Key Points

Minimum Wage More than two million workers will see their pay jump from April 19, as the National Living Wage jumps to £8.21 an hour. Personal tax The Conservatives’ manifesto pledge to increase personal allowances to £12,500 and the higher rate threshold to £50,000 will be implemented from April 2019, which is one year earlier […]

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