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ISA reforms from April

April 2024 ISA reforms bring user-friendly changes, allowing multiple subscriptions and greater flexibility in cash and investments.

The national insurance tax cut

UK employees benefit from a 2% NIC rate cut, effective Jan 6, 2024, as the government shifts toward treating NICs as taxes.

Scottish Budget: Additional Announcements

Some other announcements worth sharing include: You can read our Scottish budget economic summary and Scottish budget tax announcements Get in touch today for expert accounting and tax advice.

Scottish Budget: Tax Announcements

Income tax The structure of Scottish income tax will change in 2024/25: Scottish taxpayers – non-dividend, non-savings income 2024/25 2023/24 Tax Rate   Tax Rate   Starter rate on taxable income up to 19% £2,306 19% £2,162 Basic rate on […]

The Scottish Budget – 19 December 2023

Introduction The Deputy First Minister and Cabinet Secretary for Finance, Shona Robison, faced some difficult decisions in drawing up her first Budget. Inflation had taken its toll on spending, to which had been added new commitments such as a promised […]

Scottish Budget: Economic Update

The Scottish Budget arrived against a backdrop of mixed UK economic news in the previous week: ·       On the Thursday the Bank of England had announced its third consecutive interest rate freeze. The day before the US Federal Reserve had […]

Get ahead on capital gains tax planning

Some careful forethought can help minimise your capital gains tax (CGT) bill. Everyone has an annual CGT exempt amount, which in 2023/24 makes the first £6,000 of gains free of tax. For 2024/25, this amount will be halved to £3,000. […]

Planning for directors and employees

Bringing forward income could be a sensible approach if you are not currently an additional rate taxpayer but expect to become one next year. You could consider a similar strategy to keep your income below the level at which you […]

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