What is happening with UK TAXES? : UK Personal Tax, Capital Gains Tax & UK Corporate Tax Update

How does UK Tax work? For an update on UK Personal Income Tax, Capital Gains Tax Changes and UK Corporate Tax this video is for you.

We look at what Rishi Sunak announced in his UK Economic Budget Announcement regarding UK tax changes and look at how these tax changes could affect you going forward.

UK Personal Income Tax
- The Personal Income Tax Brackets will increase slightly in April 2021, however, from the on the Tax brackets will be frozen until 2026. This is a stealth tax that will see an increase of tax revenue of £6billion for the treasury.

Now is a good time to take advantage of tax free investments like ISAs or increasing pension contributions.

UK Capital Gains Tax
- Like the personal tax, capital gains tax rates have not been changed, however, the tax free thresholds will be frozen.

You do not pay capital gains tax on gifts to a husband, wife or civil partner.

UK Corporate Tax
- The corporation tax rate will rise from 19% to 25% in 2023.


#CorporateTax #PersonalTax #CapitalGainsTax

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🕘Timestamps:
00:00​ - Intro
00:51 - UK Personal Income Tax Changes
03:37​ - UK Capital Gains Tax Changes
04:57​ - UK Corporate Tax Changes
06:30 - Like, Comment & Subscribe

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Credit for clips in the video go to:
Sky News/"Watch in full: Chancellor Rishi Sunak delivers his 2021 budget statement" which can be found in full here: https://www.youtube.com/watch?v=o4wEcvsKoSg&t=965s
Use under the remit of Fair Dealings. No copyright infringement intended.
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