UHY Ross Brooke Chartered Accountants
Despite being in existence for some 15 years, the effects of the personal allowance restrictions are surprisingly unknown by many. The personal allowance restriction means that ‘higher earners’ see their personal allowance reduced by £1 for every £2 of income received above £100,000. This threshold has not changed since it
Although the headline highest rate of income tax is 45%, many people will be paying a marginal rate of 60% and not even be aware of it. That is because, as your income exceeds £100,000 you start to lose £1 of personal allowance for every £2 of income above that
On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The government sought a balanced path to support the economy and return to
Whilst it is doubtful Mr Spock was ever an expert on the UK tax system, if he had been, he may have uttered that phrase in the context of the pension changes introduced by the Coalition government. Some would argue that the amendments to the tax treatment of pension funds on
If you are an employer, you are probably already aware that the new auto enrolment pension rules mean that you will have to select a pension scheme that meets the legal requirements for certain workers. No doubt you will also want to ensure that you select a good quality scheme