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Covid-19

 

The office is again accessible by clients.  However, it would be appreciated if face coverings could be worn inside the office.


 

 

 

Spring Budget 2022

 

 

Income Tax

The personal allowance has remained at £12570 in 2021/22 and remain at this level until 2026.  The higher rate and additional rate tax thresholds will also reamin at £37700 and £150000 respectively.

 


National Insurance


Employee National Insurance threshold to be set at £190 per week from 6 April 2022, increasing to £242 from 6 July 2022.  Employer rate to be £175 per week.

 

 

VAT

The standard rate will remain at 20%.  The turnover threshold for VAT registration is £85000 and the threshold for VAT registered businesses wishing to cancel their registration is £83000.  These amounts to remain in force until 31 March 2023.



Corporation Tax


The Corporation Tax rate (19%) will remain the same until April 2023 when the headline rate will increase to 25% for businesses with profits of £250000pa or more, tapering down to 19% for businesses with profits of up to £50000pa.