Launching ‘Penny to the Pound

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.”

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.

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.”