Corporation Tax Rate Changes from 1st April 2023
Starting from 1st April 2023, significant changes to the Corporation Tax rates will come into effect, impacting companies with varying levels of annual profits. Here’s a breakdown of the new rates: Understanding the Effective Rate of 26.5% The effective tax rate of 26.5% is implemented to ensure that companies with profits exceeding £250,000 are taxed […]
New Child Benefit Tax Rates for Self-Employed and Company Directors
If you are a self-employed individual or a company director with children under the age of 16, you may be eligible for Child Benefits in the 2023/24 tax year, provided your total earnings are below £60,000. Additionally, eligibility can extend to children under 20 who are currently undertaking approved educational courses or training. The good […]
Can You Freelance and Be Employed at the Same Time?
The short answer is yes. For many aspiring freelancers, balancing full-time employment and freelancing can be a strategic employment structure while transitioning into self-employment. It offers a stable financial foundation and a sense of security until they can establish a solid client portfolio and cash flow. In this article, we’ll explore some key personal and […]
