Author: David Richardson

ACCA Qualification – what its all about.

Gaining ACCA qualifation

The attached pdf gives an insight into what is involved in preparing for, undertaking and gaining the ACCA professional accountancy qualification.

Download now

McGinty Demack are accredited to Platinum status as an ACCA training centre for persons wanting to working the accounting and finance industry.

At McGinty Deamck we pride ourselves in recruiting the right people and providing a sucsssful training programme which continues to deliver experienced an qualified staff into our business.

View our current vacancy

2025 Tax Card

Our accountant’s tax card (sometimes called a budget tax card, tax facts card, or tax rate card) is a summary sheet given by McGinty Demack to its clients after a government budget is announced. Its purpose is to give a quick, clear overview of the new tax rules, rates, and thresholds that apply for the coming tax year so clients can plan accordingly.

Download a tax card

What we typically include

Although formats vary year on year, a standard post-budget tax card usually includes:

  1. Income Tax Information

  • New tax bands and thresholds
  • Rates for each band
  • Personal allowance / standard deduction changes
  • Any surtaxes or temporary levies

  1. National Insurance / Social Security Rates

  • Employee and employer contribution rates
  • Thresholds for contributions
  • Changes announced in the budget

  1. Corporation Tax

  • Corporation tax rate(s)
  • Small-profits rate / marginal relief (if applicable)
  • Relevant allowances, reliefs, or incentives

  1. Capital Gains Tax

  • Annual exempt amount
  • CGT rates for individuals and trusts
  • Property-related CGT rates (if different)

  1. Value Added Tax (VAT) / Sales Tax

  • Standard, reduced, and zero rates
  • Registration thresholds
  • Flat-rate scheme updates, if applicable

  1. Payroll & Employment-Related Rates

  • Minimum wage / living wage rates
  • Statutory payments: maternity, paternity, sick pay
  • Employer allowances

  1. Allowances & Reliefs

  • Pension contribution limits
  • ISA / tax-advantaged savings limits
  • Inheritance tax thresholds
  • Business reliefs (R&D credits, capital allowances, etc.)

Download our Tax Card

If you need any assistance in points relevant to you please do not hesitate to contact us

2025 Budget Report

The 2025 Autumn Budget Report

Here is our review of the autumn 2025 budget delivered by Rachel Reeves Chancellor of the Exchequer on Wednesday 26th of November 2025.

Download the 2025 Budget review

It has been an unusual budget with many points pre-released prior to the presentation in the house of commons on Wednesday and also an accidental leak of the budget document online shortly before Rachel reached Centre stage. The budget has been described as I spend now pay later piece but only time will tell whether this provides economic stability as well as a fairer  society which Rachel Reeves aimed to do. Look out for our follow-up points on specific budget details in our newsfeed in the coming weeks.

Our clients who hold rental properties personally will certainly see changes not only with the legal changes giving renters more rights but also facing a 2p increase in tax rates on the rental income they receive. Read our 2025 Budget Report

If you need any further information or assistance please use our contacts page to get in touch

 

Winner Wigan Business Awards

2025  Professional Services Award

Its been almost a week since McGinty Demack accountants were selected by esteemed judges as the best Professional Services Business within the Wigan Borough.

It seems along time since February when the practice had to begin setting out the reasons why we were that bit different to our accountancy competitors.

Selected as one of five other professional services businesses in what the judges described as a very competitive field. our directors had to present the reasons why the practice stood out and what future plans are in place. for the futurity of the practice.

We didnt know how well we had done until late on Friday night we were announced as Winner Wigan Business Awards. Our sucess is a credit to our team who work with great dedication and commitment and of course our loyal clients who without them we could not be the business we are.

professional services business of the year 2025

Budget Autumn Statement 2024

Whether it’s the budget you expected or hoped for we now know the detail of what changes the government have made in their bid to bolster the economy.

Much has been said about the deficit inherited from the previous government and what that would entail in terms of changes going forward.

McGinty Demack have analysed the major points arising from the Chancellor Rachel Reeves speech in Parlement. You can download a free copy of this and of course if you have any queries in respect to your own personal or business position please do not hesitate to contact us.

 

The key impacts on clients are:

  • Increase in the interest rate charged on overdue tax by 1.5% in April 2025.
  • Fuel Duty will not be increased as expected next year.
  • Employers NIC rate to be increased by 1.2% taking it to 15%, and the starting point at which this is paid will be dropped from £9,100 to £5,000 of earnings.
  • NIC Employers Allowance increased from £5,000 to £10,500
  • Capital Gains Tax lower rate increased from 10% to 18%, and the higher rate from 20% to 24% from today.
  • Business Asset Disposal Relief £1Mil limit to be retained, but the 10% rate will be increased to 14% next April, and 18% the year after.
  • IHT Thresholds frozen for an extra 2 years until 2030, inherited pensions brought within the charge to IHT from April 2027.
  • From April 2026 BPR/APR limited to £1Mil of assets, any excess value taxed at 50% of full IHT rate.
  • Electric Vehicle tax incentives are to be retained until 2028.
  • Business rates 2026/27 Retail/Hospitality/Leisure properties will have a new 40% relief from 2025 replacing the current temporary reliefs.
  • A Corporate Tax Roadmap has been published – rate of Corporation Tax capped at 25% for the duration of this parliament, Annual Investment Allowance and Full Expensing also to be retained.
  • The current Non-DOM Regime is to be removed from April 2025 and replaced by a new residency-based system.
  • Stamp Duty Land Tax additional dwellings surcharge to be increased from 3% to 5% from tomorrow.
  • VAT to be introduced on private school fees from January 2025, business rates relief for private schools is also to be removed from April 2025.
  • Income tax and NIC thresholds freeze will not be extended with a return to inflationary increases from April 2028.
  • An independent review of the Loan Charge will be commissioned.

If you have any queries or want to know how these changes impact you or your business please contact us on:

info@mcgintydemack.co.uk or call 0800 1223 6633 and one of the team will be happy to help you.

Download the 2024 Budget PDF