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

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.

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.”

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.”