Employer NICs rise may have unforeseen consequences
Posted on Friday, November 8th, 2024
The extra costs of the increase in employers’ NICs could cause businesses to respond in ways the government did not intend, the Chartered Institute of Taxation (CIOT) has warned. At the Autumn Budget, Chancellor Rachel Reeves announced... Read Full Article...
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Jeremy Hunt cuts NICs again in the Spring Budget
Posted on Friday, April 5th, 2024
The Chancellor made further changes to National Insurance contributions (NICs) following the cuts made in the Autumn Statement 2023. The rates for NICs will be cut by two percentage points for both employees and the self-employed from... Read Full Article...
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National Insurance changes ‘ease burden on strivers’
Posted on Friday, December 8th, 2023
The changes to National Insurance contributions (NICs) announced by Chancellor Jeremy Hunt in the Autumn Statement will help to ‘ease the burden on strivers up and down the country‘, according to the Federation of Small Businesses (FSB). Mr... Read Full Article...
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Taxpayers given more time for voluntary national insurance contributions
Posted on Monday, April 17th, 2023
The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions. The extension comes after members of the public voiced concerns over the... Read Full Article...
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National insurance threshold rises to £12,570
Posted on Friday, August 5th, 2022
The level at which people start paying national insurance rose from £9,880 to £12,570 from 6 July. According to the government, 30 million people across the UK will benefit from this tax cut. It says the increase... Read Full Article...
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National insurance rise ‘set to squeeze budgets’, warns CBI
Posted on Monday, February 28th, 2022
The Confederation of British Industry (CBI) has warned the government that the planned rise in national insurance will squeeze budgets and affect economic growth. The rise will see employers, employees and the self-employed pay 1.25p more in... Read Full Article...
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National Insurance and dividend tax rises announced for social care reform
Posted on Thursday, October 7th, 2021
From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases. There will be a 1.25% increase in NICs on earned income, with dividend... Read Full Article...
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Self-employed Class 2 National Insurance will not be scrapped
Posted on Wednesday, October 3rd, 2018
The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019. Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with... Read Full Article...
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