Latest News

LATEST NEWS

 IMPORTANT DATES FOR INDIVIDUALS AND SELF EMPLOYED:

31st July 2019              Second payment on account of tax for 2019/2020 due to HMRC.

5th October 2019         Deadline to advise HMRC that you need to register Self-Assessment for the tax year 2018/2019.

30th December 2019   Deadline for filing Income Tax return with HMRC if you want any tax collected through your PAYE coding (under £3,000).

31st January 2020        Deadline for filing Income Tax return with HMRC and deadline for payment of any tax, national insurance and student loan owed to HMRC for 2018/2019.                                  

 NATIONAL MINIMUM WAGE RATES 1 APRIL 2019:                      

  • The rate for 25 and over will increase by 0.38p from £7.83 to £8.21 per hour.
  • The rate for 21-24 year olds will increase by 0.32p from £7.30 to £7.70 per hour.
  • The rate for 18-20 year olds will increase by 0.25p from £5.90 to £6.15 per hour.
  • The apprentice rate will increase by 0.20p from £3.70 to £3.90 per hour. Apprentices are

entitled to the apprentice rate if they are either:

  • Aged 19 or under
  • Aged 19 or over and in their first year of apprenticeship.

WORKPLACE PENSION MINIMUM CONTRIBUTIONS ARE INCREASING FROM 6 APRIL 2019:

Employer minimum contribution  3%
Employee minimumcontribution 5%
Total 8% 

 TAX CHANGES TAKING EFFECT FROM APRIL 2019: 

EARNINGS (If you live in England, Wales or Northern Ireland) 2019/20 Rate

 Under your personal allowance (PA) No income tax payable
For most, £12,500

Between PA & PA + £37500 (basic rate) 20%
For most, over £12,500 to £50,000

Between PA + £37,500 and £150,000 (higher rate) 40% (1)
For most, over £50,000 to £150,000

 Over £150,000 (additional rate) 45%
(1) Personal allowance drops by £1 for every £2 earned over £100,000

Employer National Insurance Contributions no longer have to be made for employees who are under the age of 21.

National Insurance Employment Allowance for April 2019 stays at £3000 per year.