NIC cuts and what they mean for you
As widely predicted, in his 2024 Spring Budget, the Chancellor announced a 2% cut in the main rates of Class 1 and Class 4 NIC.
As widely predicted, in his 2024 Spring Budget, the Chancellor announced a 2% cut in the main rates of Class 1 and Class 4 NIC.
Business rates, rather than council tax, are payable on non-domestic properties. The rates are worked out by applying the relevant multiplier to the property’s rateable
Most private companies start as sole owner-managers; roll on a few years and some will have grown such that family members may also work for
Tax codes are fundamental to the operation of PAYE. If your tax code is correct, you should pay the right amount of tax on your
Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs, factories, guest houses and holiday lets. Business
The end of a business will not necessarily mean that no further expenses are incurred. Where expenses are incurred after the business has ceased, tax
The profitability or earning capacity of a business may depend on one person or on a small number of people. Where this is the case,
Main residence relief is a valuable relief which prevents a tax charge arising where a gain is realised on the disposal of a property which
If you are self-employed, the way in which your profits are taxed is changing. As a result of this, you only have a limited window
For stamp duty land tax (SDLT) purposes, a property may be a residential property, a non-residential property or a mixed-use property. The classification is important
The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually
Most taxpayers know that they must adhere to a rigid timetable for the submission of tax returns and claims, otherwise either penalties are levied or
Employees often need to undertake business trips and it is common practice to reimburse the employee’s fuel costs by means of a mileage allowance. The
In his March Budget, the Chancellor announced a number of changes to the pension tax rules, including an increase in the annual allowance and the
A self-invested personal pension (SIPP) can be an attractive option for saving for retirement and is one that is popular with company directors. Under a
If you run your property business from home, you may wish to use simplified expenses to claim relief for associated household costs. You can also
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Pre-pandemic, giving discounts to employees was invariably only offered by the larger companies. However, because employee benefit schemes save the employer money, many SMEs are
Many businesses view entertaining clients and customers to be an important part of their marketing budgets, whether as a networking opportunity, a thank you for
The pandemic changed the way in which many people worked, forcing them to work from home if they could. Post-pandemic, many employees have continued to
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