For the 2026-27 tax year, individuals with income between £100,000 and £125,140 face an effective marginal income tax rate of 60%. This unusually high rate is not a separate tax band but arises because the personal allowance is gradually withdrawn once income exceeds £100,000.The personal allowance remains £12,570 for 2026-27 and continues to be withdrawn…
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New rights to sick pay and parental leave for millions of workers
The UK government has introduced significant employment law reforms that expand access to Statutory Sick Pay (SSP) and parental leave rights. These measures represent one of the most substantial updates to workplace protections in recent years and are intended to support employees facing illness or family responsibilities, while helping to create a more flexible and…
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When does a hobby become a business
Many people start an activity as a hobby, perhaps selling handmade goods online, offering occasional services, or generating small amounts of additional income from spare capacity. Over time, what begins as a leisure pursuit can evolve into something that looks increasingly commercial. This raises an important question, when does a hobby become a business for…
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Price gouging and the governments new response
Recent global instability, particularly tensions affecting oil and energy supply chains, has increased concerns about price gouging, where businesses take advantage of shortages or uncertainty to impose unjustified price increases. In response, the UK government has announced new measures intended to protect consumers and ensure markets continue to operate fairly.Price gouging generally occurs when businesses…
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