On 30th October, Chancellor Rachel Reeves has presented Labour’s first Budget since their election. Understanding how their changes to the UK tax system impacts on your business and personal affairs is paramount. Get budget clarity here.
A number of children currently in year 11 at school, who are turning 16 years old, have not received a National Insurance number. This is why.
The start of the 2024-25 tax year is almost here. It is important to understand any changes to UK tax rates and allowances because this allows you to make the most of the opportunities available to you. This applies to your business, and for you personally.
The government have just extended the deadline for payment for buying back contribution years for state pension from 5 April to 31 July 2023 – taxpayers have extra time to make voluntary national insurance (NI) contributions going back to April 2006. The government has announced that contributions made in this window will be at the 2022/23 voluntary NI rates.
Update: Deadline for voluntary National Insurance contributions extended to April 2025 to check your National Insurance record to enable you to fill in any gaps in your NI contributions. Anyone with a shortfall in their record has until April 2025 to buy back their missed years to qualify for a full state pension
Functionality to allow employers to set up a recurring direct debit to pay PAYE and national insurance liabilities will launch early in October. HMRC have announced that a variable payment plan for PAYE and NIC liabilities will be available. The existing system allows only a single payment to be made by direct debit.
Continue readingLiz Truss has beaten former chancellor Rishi Sunak in a ballot of Conservative members and will replace Boris Johnson as Conservative Party leader and PM tomorrow. Take a look at proposed policies and what they mean for business and for you
Continue readingA new health and social care tax will be introduced across the UK to pay for reforms to the care sector and NHS funding in England. It will raise £36bn for front line services over the next three years.
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