Post-Budget Webinar – Recording

Taxation » November 4, 2021

The Autumn budget was announced on 27th October 2021, a summary of the changes that are most likely to impact divorcing couples are:

Change to CGT reporting

  • 30 day CGT reporting has now been extended to 60 days (for any sales or transfers completed on or after 27th October 2021).

As previously announced,

Changes to income tax rates and NICs

  • Tax rates on dividends will increase by 1.25% from April 2022.
  • Employer & employee NICs will increase by 1.25% from April 2022.

These changes will have most impact on people who work through an agency or umbrella company and small business owners.

Changes to corporation tax

From April 2023

  • companies with profits over £250,000 will pay corporation tax rate at 25%
  • companies with profits under £50,000 will pay corporation tax at 19%
  • companies with profits between £50,000 to £250,000 will pay corporation tax at a rate between 19% to 25% depending on the level of the profits.

Our Director, Sofia, ran through these changes in a post budget briefing which you can watch here.

If you would like a copy of the webinar slides, please email our Practice Manager, Carey on:

carey@thomas-consulting.co.uk

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