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08 MARCH 2023

Rates for Corporation Tax years starting 1 April 2023

From April 2023 onwards, the main rate of Corporation Tax will rise from 19% to 25%, The current 19% rate will still apply if your profits are £50,000 or less.

Minimum wage increase from April 2023

The minimum wage for workers aged 23 and over will rise from £9.50 to £10.42 an hour from April 2023.

Changes to VAT penalties and interest

There are new penalties for submitting VAT returns or paying VAT late, which came into effect on 1 January 2023.

HMRC urges eligible couples to claim Marriage Allowance

HMRC has reminded married couples eligible for the Marriage Allowance to make use of the tax relief.

Taxpayers are given more time for voluntary National Insurance Contributions

Thousands of taxpayers have been given more time to fill the gaps in their National Insurance record and help increase the amount they receive in State Pensions.