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Understanding UK Tax Codes

Understanding UK tax codes is essential for ensuring you’re taxed correctly. Here’s a straightforward guide to help you decode your tax code. What is a Tax Code? A tax code is used by your employer or pension provider to work out how much Income Tax should...

The 2024 Spring Budget

The Spring Budget 2024 for the UK, presented by Chancellor Jeremy Hunt, outlined several key areas of focus. Here are a few of those areas : Economic Outlook ▪︎ The Office for Budget Responsibility (OBR) forecasts inflation to fall to the government’s 2% target by Q2...

Bank of England raises UK interest rates to 5.25%

The UK’s interest rate has been raised to 5.25% by the Bank of England, as it continues to try and bring inflation under control. The Bank’s Monetary Policy Committee increased the rate by 0.25% from 5% – the 14th increase in a row. It is a 15-year high...

HMRC extends deadline for voluntary NICs to April 2025

HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025. Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions is right for them, and also ensures individuals...