On The Spot Blogs

Autumn Budget - Cheers From Your Town?

Today's Budget recognises the help needed by your local area such as retail and hospitality, with alcohol duty reduction and reform, 50% rates reduction for 1 year, property improvements not affecting your rates for 1 year, plus money directed to areas such regional theatres, community football pitches, cycling infrastructure, local minor roads and to local councils.

Keeping it local tends to favour small businesses who can now try to build on the support and appreciation received during lockdowns. Remember to increase your prices so your business keeps pace with inflation and remains viable. So, what else should you and your business know from today?

 

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2021 Tax Year End Planning - Top Tips


Easter Monday is not only the end of a long bank holiday, it’s also the end of the tax year. Make sure you plan accordingly, so you can improve your nest egg before Easter 🐤 Please see our top tips below:

1. Income Tax Thresholds - £50k and £100k

These are crucially important to understand, to ensure you don’t pay more tax than you need to. Even if you benefit from a 0% tax rate on certain allowances, say the £2k dividend allowance, the £2k still counts towards these £50k and £100k thresholds.

 

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