NMR Accounting Solutions

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15/03/2025

Capital Gains Tax

The lower rate of CGT will be increasing from 10% to 18% and the higher rate from 20% to the 24%. Business Asset Disposal relief and Investors Relief will rise to 14% from 6 April 2025 and will rise to the main lower rate of 18% from 6 April 2026.

15/03/2025

Business owners with employees.
From 6 April National insurance will be increasing to 15% from 13.8%, as well as the increase, the secondary threshold is being lowered from £9,100 to £5,000 meaning that employer will have a reduced tax band and be paying more Employers NIC's still.

Employers Allowance is increasing from £5,000 to £10,500, the threshold to businesses paying more than £100,000 in Employers NIC's is being removed making it available to all eligible employers. The Government estimate this will compensate in full 865,000 businesses, who effectively will have no Employers NIC contributions to pay.

15/03/2025

Making Tax digital for self assessment.
Planning for the year ahead!

From April 2026 it will be mandatory for those of you still filing under self assessment to use software to report to HMRC,

Where your annual turnover (Income before deducting expenses is in excess £50k) from business or property income.

For those of you already using software you could ask your software provider if you can volunteer for MTD and provide HMRC with regular updates.

Address

26 Gibbs Road
Banbury
OX163

Telephone

07534439879

Website

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