From April 2022, in line with announcements made last month, National Insurance Class 1 contributions (that will affect employed persons and their employers) and Class 4 contributions (that will affect the self-employed), are increasing by 1.25%. These increases will affect all employed and self-employed workers that presently pay National Insurance. This increase will only apply […]
In a recent press release issued by the Department for Digital, Culture, Media and Sport, with the leading title “Unleashing Data’s Power”, it was announced: “The Information Commissioner’s Office (ICO) is set for an overhaul to drive greater innovation and growth in the UK’s data sector and better protect the public from major data threats, […]
University students taking part-time jobs are at increased risk of falling victim to scams, HMRC is warning. Higher numbers of students going to university this year means more young people may choose to take on part-time work. Being new to interacting with HMRC and unfamiliar with genuine contact from the department could make them vulnerable […]
1 October 2021 – Due date for Corporation Tax due for the year ended 31 December 2020. 19 October 2021 – PAYE and NIC deductions due for month ended 5 October 2021. (If you pay your tax electronically the due date is 22 October 2021.) 19 October 2021 – Filing deadline for the CIS300 monthly […]
As well as increasing National Insurance contributions from April 2022 – the 1.25% increase announced earlier this month – the Treasury also increased the hybrid income tax rates applied to dividends received, by the same amount and from the same date. The changes from April 2022 are: The first £2,000 of dividends received are free […]
HMRC is warning university students new to the world of working to be wary of potential scams. With higher numbers joining university, we are likely to see more students take on part-time work. As many young people may be unfamiliar with HMRC and legitimate contact from the department could make them vulnerable to scams. There […]
No surprises when the Prime Minister announced a hefty 1.25% increase in NIC Class 1 and Class 4 rates from April 2022. The announcement was widely predicted. Effectively, this is a tax increase on earnings (employed or self-employed) and on costs for employers. It is odd that a 1.25% increase in Income Tax would have […]
The UK Government’s Start Up Loans scheme has now provided £600 million in loans to small businesses outside London, providing extensive support for entrepreneurs across the UK. The initiative, run by the British Business Bank, was created in 2012 to provide a wide range of smaller businesses with more opportunities to create jobs, expand and […]
Having glimpsed the light at the end of the COVID tunnel, many of us will have everything crossed that progress towards normality will continue. The winter months are not a brilliant time for infection and we should expect the usual rash of flu, and now COVID, cases to increase. In the past two years words […]