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

Greenwood Accountancy

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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.

28/10/2026

📣 Budget 2026: what could it mean for you and your business?

There’s plenty to digest from today’s Budget. Here are a few key announcements worth knowing:

🏠 Landlords and savers
From 6 April 2027, tax rates on rental profits and taxable savings interest are set to become 24%, 44% and 49%. That includes the previously announced increase plus a further two percentage points announced today.

💼 Selling your business
The lifetime limit for gains qualifying for Business Asset Disposal Relief will fall from £1 million to £500,000 from 6 April 2027. The qualifying tax rate remains 18%.

👥 Employers
From 1 April 2027, the National Living Wage for workers aged 21 and over rises to £13.21 an hour. The minimum wage for 18–20-year-olds rises to £11.27.

💰 Cash ISAs
The planned reduction in the cash ISA allowance has been scrapped. You’ll still be able to save up to £20,000 a year in a cash ISA, within your overall ISA allowance.

📈 Capital gains
The main Capital Gains Tax rates remain at 18% and 24%, with the annual tax-free allowance staying at £3,000.

The impact will depend on your circumstances. If you’re unsure what these announcements mean for you or your business, please get in touch with Greenwood—we’re here to help.

This is a brief overview of the announcements, rather than individual tax advice.

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

11/07/2025

We are looking for an accounts assistant to join the team who is experienced in using accounting software and excel.

Contact us on [email protected] for more details

23/12/2024

Merry Christmas from all of us at Greenwood Accountancy 🎅🎄

30/10/2024

Budget day, please message us over the next few days if needed

02/08/2024

Proud to be supporting Teignmouth RFC for another season.

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

Website

http://www.greenwood-accountancy.com/

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