How the mini budget impacts the income tax you’ll pay
From April 2023 the additional rate of tax will be decreased to 40% from the current 45%. This means that there will be just one rate of higher income tax, which is 40%. The additional rate of tax applies to income over £150,000. (Note that on 3 October 2022...
How the mini budget impacts the Corporation tax you’ll pay
The Chancellor of the Exchequer presented his Growth Plan to Parliament on Friday 23 September 2022. These are the main points about corporation tax: The main rate of corporation tax was due to increase to 25% from April 2023, however, this increase has...
23 September 2022 mini budget and growth plan
On the 23rd of September 2022 Kwasi Kwarteng, the Chancellor, held a mini budget with the aim of encouraging growth in the economy. The main points were: Corporation tax will remain at 19% (Instead of increasing to 25% from 1 April 2023). The annual investment...
VAT threshold 2022 – What is the VAT threshold in 2022?
VAT threshold 2022 The VAT threshold for 2022 is £85,000. This means that if your taxable turnover is more than £85,000 in the previous 12 months, you may need to register for VAT. The VAT rules are pretty complex. Not all sales count towards the VAT...
mtd for income tax (MTD ITSA)
MTD for income tax (MTD ITSA) If you’re a landlord, or you’ve got a business, Making Tax Digital for income tax (MTD for income tax) may really impact you. You’ll have to keep your records electronically and submit income and expenditure details to HMRC at...
Q4 2021 business confidence
The Institute of Chartered Accountants has just released its Q4 UK business Confidence report, showing a weakening of business confidence. The main reasons are skills shortages, staff turnover, increased costs, and transport problems. It has to be pointed out that...
HMRC VAT
HMRC VAT - If you're in business, or thinking about starting a business you need to know about VAT. In this article we look at: What is VAT? Do I have to charge VAT? What you have to do if you register for VAT How we can help What is VAT VAT is a tax you...
What types of businesses are there in Cheltenham
If you're looking at moving to Cheltenham, or doing business here, it's really useful to know what types of business there are. About 90% of businesses in Cheltenham have less than 10 employees and turnover less that £1 million. There are about five thousand...
How to choose an accountant
Knowing what you need from an accountant, and finding out how to choose an accountant can be a daunting prospect. Choosing the right accountant is one of the most important things you will do for your business
Newton Accountants
Welcome to Newton Accountants. We're a firm of accountants in Cheltenham, helping individuals and businesses in Cheltenham, Gloucestershire, and the rest of England.