Archive for March, 2012

Budget 2012

Budget 2012 The Chancellor of the Exchequer George Osborne presented his Budget for 2012 to Parliament on 21 March 2012. Headline summaries of the main announcements which affect businesses and individuals and listed below (source HMRC website www.hmrc.gov.uk) Income tax rates and Allowances 2012-13 and 2013-14 As announced at Budget 2011, the income tax allowance […]

Profit Extraction – 6th April 2012

Tax Planning – Maximum Profit Extraction Increases in the National Insurance (NI) thresholds from 6th April 2012 will increase the optimum annual salary for Directors. The Primary Threshold (PT), the point at which salaries become chargeable to NI for employees, will rise to from £7,228 to £7,592 per year and the Secondary Threshold (ST), the […]