Budget changes and what they mean for you

Budget changes and what they mean for you

The Chancellor, Jeremy Hunt, delivered his Budget statement to Parliament on March 6, and there were various changes that should benefit individual taxpayers and businesses. One of the biggest announcements, which takes effect from April 6, is a further reduction in...
NICs changes to start from January 6

NICs changes to start from January 6

Just a quick reminder that the reduction of Class 1 National Insurance Contributions (NICs) will begin on January 6, 2024. From this date, the amount paid on Class 1 NICs will fall from 12% to 10%. This is the main rate of NICs paid by employees through PAYE. The...
Autumn Statement: NICs changes in detail

Autumn Statement: NICs changes in detail

The biggest tax cuts announced by the Chancellor in his Autumn Statement were in NICs, where self-employed people will no longer pay Class 2 NICs at all from April 6, 2024. Class 4 NICs will be reduced from 9% to 8% from the same date. Class 1 employee NICs –...
P60 Deadline – 31 May

P60 Deadline – 31 May

P60 Deadline – 31 May All employers are legally obliged to issue P60s to employees by 31 May. By that date, employers must give a P60 to all employees on payroll who were working for them on the last day of the tax year (5 April 2022). The P60 summarises the...
Payments on Account

Payments on Account

Payments on Account Payments on account are advance payments towards your tax and, where relevant, your Class 4 National Insurance bill. You may need to make them if you are self-employed or if you are a landlord. You may also need to make them if you operate your...