Greenwood Accountancy

Greenwood Accountancy Greenwood Accountants, www.greenwood-accountancy.com, offer a range of accounting & tax services t

Greenwood Accountants (www.greenwood-accountancy.com), in Teignmouth, Devon, offer a range of accountancy, payroll and tax services for personal and business clients. Book Keeping, Payroll, Company Formations, Sole Traders, Partnerships, Organisations, Charities, VAT, Inheritance & Capital Gains Tax are all services that are available.

25/12/2025

Merry Christmas and a happy new year from us all at Greenwood, we will be back open on Friday 2nd January. We hope you all enjoy the festive period.

26/11/2025

⭐ BUDGET SUMMARY – WHAT TODAY’S ANNOUNCEMENT MEANS FOR YOU

Here are the key points from today’s Budget in simple terms:

🔸 Income Tax & NIC
• Income-tax thresholds frozen until 2031 – meaning more people will move into higher tax brackets over time.
• NIC thresholds effectively frozen too.

🔸 Dividend Tax
• Dividend tax rates will rise by 2% from April 2026.
• Affects anyone taking dividends from a limited company or receiving investment income.

🔸 Pensions
• From April 2029, only the first £2,000 of salary-sacrifice pension contributions will be exempt from NIC.
• Anything above this will attract both employer & employee NIC.

🔸 Property & Council Tax
• From 2028, a new High-Value Council Tax Surcharge will apply to homes over £2m.
• Additional tax tightening on property and rental income.

🔸 National Living Wage
• NLW rises to £12.71 per hour from April 2026 for workers aged 21+.
• Increases also coming for younger workers.

🔸 Benefits
• The two-child benefit cap will be removed.

🔸 Other Measures
• Mileage-based tax planned for electric vehicles.
• Higher duties on gambling & to***co.
• Customs charges to apply to all overseas parcels.
• ISA rules adjusted, reducing allowances for under-65s.

⸻

🧾 Overall picture

UK tax levels continue to rise, especially for business owners, investors, landlords and higher earners.

If you’d like help understanding how this affects your salary/dividend mix, pension planning, or business, feel free to contact us at Greenwood Accountancy.

26/11/2025

📢 Autumn Budget 2025 – Update Coming Soon

We’re currently reviewing today’s Autumn Budget and the full HMRC/Treasury technical papers as they’re released.

A clear, simple summary will be posted shortly covering:
✅ Income tax & National Insurance
✅ Dividend tax changes
✅ Corporation tax & business measures
✅ Pensions and salary sacrifice
✅ Capital gains, trusts & property updates
✅ Anything affecting small businesses, landlords and company directors

We’ll provide a full breakdown as soon as accurate information is confirmed.

If you have any questions in the meantime, please feel free to get in touch.

26/11/2025

That was different being able to see the budget before it was read.

25/11/2025

Budget day tomorrow, not one we are looking forward to reporting on

Address

5/7 Pellew Arcade, Teign Street
Teignmouth
TQ148EB

Opening Hours

Monday 9am - 12:15am
Tuesday 9am - 5:15pm
Wednesday 9am - 5pm
Thursday 9am - 5:15pm
Friday 9am - 5pm

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