VAT Threshold Raised to Help Small Businesses

VAT Threshold Raised to Help Small Businesses

Taxation

Small Business VAT Threshold Increase and Rates Freeze to Boost the UK Economy Small businesses have received a significant boost with the VAT registration threshold raised from £85,000 to £90,000, and a £4.3 billion business rates relief package coming into effect. This measure, coupled with freezing the small business rates multiplier for the fourth consecutive…

29 Million Employees Benefit from Record Tax Cut

29 Million Employees Benefit from Record Tax Cut

Taxation

29 Million Workers Receive Largest Ever Tax Cut to National Insurance in the United Kingdom The United Kingdom government is implementing the most significant tax cut in national insurance contributions (NICs) in history. The program is set to give £900 boost to the annual income of a typical worker. Since the autumn of 2023, NICs…