Corporation Tax

This coverage examines corporation tax developments affecting the UK petcare industry, from changes in tax rates and allowances to compliance requirements and government policy updates. Pet Gazette reports on how corporation tax impacts profitability, investment decisions, and long-term business planning for pet retailers, wholesalers, manufacturers, and suppliers. Coverage includes news, expert commentary, and market analysis to help pet trade professionals navigate corporate taxation and make informed financial and operational decisions.

Nov- 2025 -

26 November

Economy

BUDGET: Income tax bands frozen, minimum wage to increase, NI-exempt pension threshold scrapped

Income tax and NI thresholds will be frozen while the minimum wage will rise by 50p from April 2026, the chancellor Rachel Reeves said in her Autumn Budget statement today. Reeves announced a series of tax changes in other areas, including salary-sacrificed NI contributions on pensions, as part of measures…
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Mar- 2025 -

26 March

Economy

Chancellor resists calls for business relief in Spring Statement

Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part of her Spring Statement today (26 March). UK businesses had been hopeful the chancellor would raise the relief rate for retail, hospitality, and leisure after cutting it to 40% in…
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Oct- 2024 -

30 October

Economy

Budget: Increases to employers’ NI and minimum wage

The Chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ National Insurance contributions…
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Mar- 2024 -

6 March

Economy

Chancellor cuts NI by a further 2p as part of Spring Budget

Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…
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Mar- 2023 -

15 March

Economy

Spring Budget: Corporation tax to rise to 25%

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…
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Nov- 2022 -

17 November

Government & Legislation

Chancellor freezes tax thresholds in Autumn statement

Chancellor Jeremy Hunt has announced a raft of measures to help “stabilise” the UK economy and reduce inflation, with tax cuts and spending cuts totalling £55bn in the Autumn statement. As part of the new measures, Hunt confirmed that tax as a percentage of GDP will rise by over 1%…
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Sep- 2022 -

23 September

Economy

Chancellor announces sweeping tax cuts in first mini-budget

Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as part of the new government’s first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…
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Mar- 2021 -

3 March

Economy

Budget 2021: Chancellor unveils new £65bn support package

Chancellor Rishi Sunak has outlined a new £65bn support package in his March budget, confirming the decision to extend the furlough scheme until the end of September as well as new loan schemes of up to £10m for businesses. In what is Sunak’s second budget since he joined office in…
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Jan- 2021 -

19 January

Government & Legislation

Sunak looks to raise corporation tax in March budget

Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact of Covid-19. However, it…
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Apr- 2020 -

17 April

Features

How to help your business navigate Covid-19: Now and in the future

It’s a challenging time to be in business, whether you’re part of the supply chain or a customer-facing retail business. With all the challenges of social distancing and people being encouraged to stay home, it’s difficult enough to bring in both your staff and your customers and try to keep…
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