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Tax thresholds frozen till 2028? That’s fiscal drag in action – more tax paid without rate rises. It’s a stealthy revenue boost for HM Treasury, projected to bring in £38bn a year by 2029. Inflation and pay rises make it worse.
The freezing of tax
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Minimum wage rates rose on 1 April 2025. NLW now £12.21, and big increases for younger workers too. Make sure you’re compliant – underpayment can cost up to £20K per worker and a director ban. Time to check your payroll!
Employers must ensure they
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Child Benefit has risen for 2025-26: £26.05 for eldest, £17.25 for others. Claim continues to age 20 in approved education. HICBC still applies for incomes over £60K – but PAYE option coming this summer!
The child benefit rates for the only or
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Gross profit is one of the clearest indicators of how well your business is performing. It’s the amount left after deducting the cost of goods sold (COGS) from your sales revenue. Managing your gross profit returns well is crucial because it directly
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