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Filter bySort byMinimum wage rose on 1 AprilPosted on: 7th April 2025Increases to the National Living Wage and National Minimum Wage took effect from 1 April. From April 2025, the NLW will increase by 6.7% and the NMW by as much as 18% depending on the…No further tax increases in Spring StatementPosted on: 7th April 2025Chancellor Rachel Reeves announced 'no further tax increases' in the 2025 Spring Statement. The Chancellor's Autumn Budget contained a record £40 billion in tax increases. However, it did not raise personal taxes including, Income Tax,…Finance Act 2025 receives Royal AssentPosted on: 7th April 2025The first Finance Act of the Labour government has gained Royal Assent and passed into law. The Finance Act 2025 makes major changes to the tax rules for non-doms, removes the VAT exemption for private…Side hustle trading threshold raised to £3,000 per yearPosted on: 7th April 2025The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online, dog-walking or gardening on the…Financial benefit of MTD could be as high as £915 millionPosted on: 7th April 2025The financial benefits of MTD for VAT could be as high as £915 million, according to analysis carried out by HMRC. Since April 2022 all VAT-registered businesses should be using MTD compatible software to keep…
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