by Samantha Sutcliffe | May 20, 2022 | NICs, Tax
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... 
by Samantha Sutcliffe | Mar 1, 2022 | NICs, Tax
NI to increase by 1.25% from April to fund the Health and Care Levy – what you can do about it The Government is set to increase National Insurance Contributions (NICs) by 1.25% from April to fund the Health and Social Care Levy, and while this may be a laudable... 
by Samantha Sutcliffe | Jan 28, 2022 | HMRC, NICs, Tax
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... 
by Samantha Sutcliffe | Oct 29, 2021 | NICs, Tax
Budget Highlights The Chancellor presented his Autumn Budget and Spending Review on 27 October 2021. Some of the highlights are discussed below. Income tax rates and thresholds The rates and thresholds applying for 2022/23 were confirmed. Personal allowance As... 
by Samantha Sutcliffe | Oct 8, 2021 | Business, NICs, Tax
National Insurance rises and the Health and Social Care Levy On 8 September 2021, the Prime Minister outlined the Government’s plans for health and social care, including a new funding strategy designed to meet social care costs. A new tax, the Health and Social... 
by Admin | Jun 1, 2021 | NICs, Tax
If you are self-employed, you will pay Class 2 and Class 4 National Insurance contributions if your profits exceed the relevant thresholds. Class 2 National Insurance contributions are the mechanism by which you build up qualifying years to earn entitlement to the...