Blogs & News

What’s Changing in the UK Tax Year 2025/26?

As we move into the 2025/26 tax year, it’s important for individuals and businesses alike to understand the latest updates and how they might affect your finances. At Clear Start Accountants, we’re here to break down the key changes so you can stay informed and prepared. 📆 When does the new tax year start? The 2025/26 tax year runs from 6 April 2025 to 5 April 2026. 💷 1. Income Tax Bands There are no changes to the main income tax thresholds in England, Wales and Northern Ireland. The bands remain as follows: Personal Allowance: £12,570 (unchanged) Basic Rate (20%): £12,571 to £50,270 Higher Rate (40%): £50,271 to £125,140 Additional Rate (45%): Over £125,140 👉 Note: In Scotland, income tax bands differ due to devolved powers. Scottish taxpayers should refer to the Scottish Government’s budget for specific rates. 🏡 2. National Insurance Contributions (NICs) One of the most significant changes is to National Insurance: Class 1 Employee NICs: Reduced from 10% to 8% for earnings between £12,570 and £50,270. Self-employed Class 4 NICs: Reduced from 8% to 6% for profits between £12,570 and £50,270. Class 2 NICs: Abolished – self-employed individuals will no longer need to pay this flat-rate contribution. This represents meaningful savings for employees and the self-employed. 🧾 3. Dividend Allowance and Capital Gains Tax The Dividend Allowance has been halved again to £500 (was £1,000 in 2024/25). The Capital Gains Tax (CGT) Annual Exempt Amount is now £3,000, down from £6,000 in the previous year. This means investors and company directors may face higher tax bills on dividend income and capital gains. 🏠 4. Property and Buy-to-Let Updates There are no major changes to Stamp Duty Land Tax (SDLT) thresholds in England and Northern Ireland. However, the government has reaffirmed its commitment to reviewing property taxes, and we may see future changes announced later in the year. 💼 5. Corporation Tax and Business Support Corporation Tax remains at 25% for companies with profits over £250,000. For companies with profits under £50,000, the small profits rate of 19% applies. Profits between £50,000 and £250,000 are taxed at a tapered rate. The Full Expensing Scheme, allowing companies to deduct 100% of the cost of eligible plant and machinery, has been made permanent. 🧒 6. Child Benefit Changes From April 2025, the High Income Child Benefit Charge threshold rises from £50,000 to £60,000. It is also being gradually tapered up to £80,000, meaning more families will retain their full entitlement. 👩‍💼 7. Pension and Savings Changes The Annual Allowance for pension contributions remains at £60,000. The Lifetime Allowance was officially abolished from April 2024 – this continues into 2025/26. The ISA allowance remains at £20,000. Need Help Navigating the New Tax Year? At Clear Start Accountants, we understand that staying up to date with tax changes can be overwhelming. Whether you're self-employed, running a business, or looking to optimise your personal finances, our expert team is here to help you make the most of your money in 2025/26. 📞 Contact us today to book a free consultation.

Enhancing Our Monthly Budgeting Service

We are proud to unveil the latest enhancement to our Personal Monthly Budgeting Service, as we launch version three of our pioneering app, offering real-time, unbiased advice on the cheapest deals in a customer’s area. The latest version draws on state-of-the-art programming to source the very best prices, which are now updated every hour, and with the added functionality of push notifications ‘as it happens’ to ensure that our customers are accessing the most competitive deals. Just as prices at the fuel pumps rise steeply, and with big differences in the cost per litre often within a few mile radius, the newest version of the app sends alerts on the cheapest five fuel stations in your locality, drawing on postcode data, as well finding the very best prices for your weekly food basket, top insurance deals and broadband providers. The updated platform also alerts customers via instant push notifications if they go over their monthly budget, helping them to keep control of costs, so everyday living expenses don’t spiral. Our CEO Fiaz Ashraf, said: “For our customers the budgeting app is a lifeline, allowing us to do the hard work for them, in advising how they can save on everyday necessities. Our significant investment in the latest version now takes this one step further, with customised price data supplied in real time to offer the very best deals close to their homes. “This latest move proves our commitment to harnessing the very latest technology to improve our capability, and hence our customer service offering on an on-going basis.” Clear Start also has its own podcast ‘Penny to the Pound’, co-hosted by Founder and CEO Fiaz Ashraf, which teams up with experts and industry leaders across the series to offer their views for those embarking on a journey to financial freedom. Penny to the Pound explores and demystifies in an easy-to-listen format relevant topics such as personal budgeting, household expenses, individual voluntary arrangements (IVAs) and debt relief orders. The podcast is now available to listen to on all major platforms, and can be viewed on the Clear Start Accountants Youtube: https://www.youtube.com/@ClearStartAccountants

Talent, Entertainment and Honouring Excellence… An Annual Celebration for the AFA Group!

As part of the AFA Group here at Clear Start, we recently held our annual end-of-year celebration at The Light Cinema in Stockport – with a wealth of entertainment, talent and esteemed accolades to recognise the outstanding work of our team members. The celebrations kick-started with the AFA Group’s spin on classic game shows such as Jeopardy and Deal or No Deal. AFA Does Jeopardy featured general knowledge questions covering categories such as Art, History, Entertainment, Science, Sports, and Geography; the team engaged in friendly competition, earning raffle tickets for each correct answer. New Business Representative here at Clear Start Gill Brooks, was victorious and secured the chance to play Deal or No Deal, and the opportunity to win £250! Despite playing a commendable game as she eliminated each box, Gill walked away with a respectable £120. Following the suspenseful games, eight individuals then took to the stage in the AFA Group’s Got Talent, where they battled to secure the grand prize of £1000 or the Golden Buzzer prize – a holiday for two in Rome! From impressive musical performances to a daring recreation of The Full Monty, the contestants showcased a huge array of talent. After intense rounds of competition, the final three contestants emerged, all of whom showcased their vocal prowess. Geralt and Nicole secured the top spots, winning the cash prize and the coveted getaway. To conclude the evening, prestigious awards were presented to individuals who have made remarkable contributions throughout the year. Among the deserving winners were: · Manager of the Year: Jan Copeland · Customer Service Agent of the Year: Soma Surai · Team Leader of the Year (Clear Start Accountants): Shaz Ahmed · New Business Agent of the Year: Mike Kennerk · Newcomer of the Year: Fezan Bhatti · Team Leader of the Year (AFA Insolvency): Kerry Summerfield · Employee of the Year: Faisal Abdirahman Fiaz reflected on the event and said: “The dedication and outstanding achievements of our team members have been instrumental in the success of the AFA Group this year. I would like to extend my congratulations to those who won awards tonight, as well as the lucky participants of our talent and game shows. “The event not only celebrated the accomplishments of the group but also fostered a sense of camaraderie and excitement among employees.”

A Highly Successful Company Conference

At Clear Start Accountants we are celebrating the resounding success of our recent company-wide conference, where we recognised and rewarded the achievements of our hardworking team. Held exclusively at the Everyman Manchester St John’s Theatre, colleagues from across the business joined together for an uplifting afternoon of celebration and camaraderie, with indulgent cinema-style refreshments included. Team leaders and managers from each department took to the stage to present a strategic overview of key milestones and successes throughout 2023, while also acknowledging the hard work of team members. Engaging presentations delivered throughout the event included an insight into overall company performance and future goals, business accountancy, personal budgeting services, AFA Insolvency, and sales and marketing. Fiaz Ashraf, Founder and CEO of Clear Start Accountants spoke about the conference and said: “We are exceptionally proud of our diligent and dedicated team here at Clear Start Accountants, and we recognise the importance of rewarding their efforts. The presentation day was a great success, offering the perfect opportunity for our colleagues to come together outside of the office environment to reflect on and celebrate their accomplishments as a team; it was an energetic afternoon, truly reflective of the workplace culture that we strive to create here.”

Landmark £100,000 in Charity Donations by Clear Start Accountants

The team at Clear Start Accountants is celebrating a record year for charitable donations, raising a massive £100,00 for numerous organisations in need of vital funds. Both regional and national charities have benefited from the substantial fundraising efforts, enabling the causes to continue their critical work throughout the community. Much-needed funds have been shared with twelve organisations including CEO Sleepout, War Child, UNICEF, Orphans in Need, Makki Masjid, Zakat Foundation, AL-Khair Foundation, Smile Aid, Human Appeal, AL-Firdous Organisation, Penny Appeal and the Amir Khan Foundation. Fiaz Ashraf, Founder and CEO of Clear Start Accountants comments: “It is an honour to support a range of charities and not-for-profit organisations, contributing vital funds as they endeavour to provide essential aid to their beneficiaries. “At Clear Start Accountants, we firmly believe in the importance of giving back to not only our local community but those that are supporting others, while also recognising the significant work that they do.”

Launching ‘Penny to the Pound

A new podcast called Penny to the Pound, providing practical personal budgeting support and guidance, has been launched by Clear Start Accountants. Co-hosted by Clear Start’s Founder and CEO Fiaz Ashraf, the podcast will welcome a host of experts and industry leaders across the series to offer their views for those embarking on a journey to financial freedom. As part of a dual offering, in addition to accountancy services provided by a qualified team of accountants, Clear Start Accountants also provides a monthly budgeting service for businesses and individuals. Throughout the series, Penny to the Pound will explore and demystify in an easy-to-listen format relevant topics such as personal budgeting, household expenses, individual voluntary arrangements (IVAs) and debt relief orders. Fiaz Ashraf, Founder and CEO of Clear Start Accountants comments: “With the rising cost-of-living and current economic climate in mind, we understand the challenges presented when it comes to managing a household budget – something that can also be a very time-consuming process. At Clear Start Accountants, we are committed to supporting our clients by helping them to understand their monthly income, expenditure and areas of overspending with our unique personal budgeting platform, and we wanted to further extend this support to the wider community with the launch of Penny to the Pound. “We have helped countless consumers and small businesses in reducing their living costs to date, identifying alternative cheaper expenses or ways to reduce their monthly outgoings in areas including gas and electricity, car insurance, fuel prices, monthly food prices and savings.” The podcast is now available to listen to on all major platforms, and can be viewed on the Clear Start Accountants Youtube: https://www.youtube.com/@ClearStartAccountants

Clear Start Accountants Expands its Team

Clear Start Accountants has announced a major team expansion with the addition of seven new employees. The Customer Service department has been bolstered with six Customer Service Agents appointed; Fezan Bhatti, Suad Sidi, Fawad Ahmad, Paige Staniforth, Anthony Dale and Muhammad Taha. Clear Start Accountants has also welcomed Aimee Collier to the team, who takes up the position of Administration Assistant. The significant growth follows hot on the heels of a bumper year for Clear Start Accountants, established only four years ago, which closed the last financial year (ending 2022) with a record turnover of £4.2 million. Fiaz Ashraf, Founder and CEO of Clear Start Accountants commented: “As the business continues to grow, we’re thrilled to be able to offer significant job opportunities within the North West, as well as considerably enlarging our customer-facing team, allowing us to maintain the exceptional level of service to our clients that we pride ourselves on. “It is a pleasure to welcome seven new members to Clear Start Accountants, all of who I’m sure will add great value in supporting our dual offering with clear advice and complete transparency – accountancy services provided by a qualified team of accountants, and a monthly budgeting service for businesses and individuals.”

Clear Start Accountants Expands Canadian Operation

Clear Start Accountants is on target to achieve Canadian sales of over £550,000 this year following notable investment and subsequent growth in Canada. With international expansion being a major focus for the business, NW business entrepreneur Fiaz Ashraf, CEO of Clear Start Accountants opened Clear Start Debt and Budget Services LLC in Toronto in 2021. Following a recent investment of over one million Canadian Dollars by his company, Fiaz has expanded the operation there to a head count of 14 people. They are also currently recruiting for further roles to accommodate additional growth. The Canadian arm, similarly to the main UK operation, offers budgeting services to customers, to support clients in managing their outgoings, and offset the rapidly rising cost of living which is being experienced on a global scale. The notable growth of the business in Canada mirrors the significant success enjoyed by Clear Start Accountants UK business, which after establishing in only 2019 saw sales of £4.2 million in 2022. Commenting, Fiaz Ashraf, says: “We entered Canada only two years ago, and our unique monthly budget offering and bespoke client software devised here in the UK, is proving a roaring success. To enhance our offering further in Toronto, we have further ambitions to become a self-contained Insolvency practice over the next 12 months and, therefore have firm plans in place for further expansion.”