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Individuals
Personal Allowances
The standard personal allowance has been frozen at £12,570 for all years from 2021/22 to 2027/28.
The transferrable marriage allowance applies from 6 April 2015 to couples (married or civil partners) where neither person pays tax at the 40% or 45% rates. The spouse who cannot use all their personal allowance against their own income may opt to transfer 10% of their personal allowance to their spouse or civil partner.
The personal allowance is tapered away for individuals who have income over £100,000, at the rate of £1 for every £2 of income above that threshold.
The allowances for recent years are as follows:
|
2020/21 (£) |
2021/22 (£)* |
2022/23 (£) |
2023/24 (£) |
2024/25 (£) |
2025/26 (£) |
| Personal Allowances |
£12,500 |
£12,500 |
£12,570 |
£12,570 |
£12,570 |
£12,570 |
| Minimum married couples allowance |
£3,450 |
£3,510 |
£3,640 |
£4,010 |
£4,280 |
£4,360 |
| Maximum married couples allowance |
£8,915 |
£9,075 |
£9,415 |
£10,375 |
£11,080 |
£11,270 |
| Marriage allowance |
£1,250 |
£1,250 |
£1,260 |
£1,260 |
£1,260 |
£1,260 |
| Blind person's allowance |
£2,450 |
£2,500 |
£2,600 |
£2,870 |
£3,070 |
£3,130 |
| Income limit for allowances for Married couple’s allowance |
£29,600 |
£30,200 |
£30,400 |
£30,400 |
£37,000 |
£37,700 |
| Income limit for standard allowances |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
| Personal allowance removed completely at: |
£125,000 |
£125,000 |
£125,140 |
£125,140 |
£125,140 |
£125,140 |
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations and projections
- Annual superannuation certificates for Partners
- Practice manager training about bookkeeping
- 2 - 4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning
Recurrent Annual Services based on fixed fee:
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations for Principles and Associates
- Practice manager training about bookkeeping
- 2-4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
- VAT advice
- Capital gains tax planning
- Partnership agreements
- Surgeries finances
- Pension planning
- Budget and cashflow planning
- Inheritance Tax planning
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Our specialist team provides a wide range of accounting and business services to General Practice.
Recurrent Annual Services based on fixed fee:
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Recurrent Annual Services based on fixed fee:
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