Marginally beneficial to small companies and lower paid individuals The Spring Statement (effectively a mini budget) reduces the tax burden slightly on lower paid and smaller companies. The most relevant announcements to our clients are an increase in the tax-free allowance for National Insurance (beneficial to businesses and employees) and an increase in the Employment […]
Find out moreNational Insurance is increasing from April 2022 From April this year, most people and businesses will pay 2.5% higher National Insurance contributions. This table illustrates how contributions stand at present and how they will look after 1st April 2022, at the start of the new tax year. Employee’s NI Employer’s NI Currently 12.00% 13.80% From […]
Find out moreNational Insurance – Your questions answered What is National Insurance? National Insurance (NI) is a tax that must be paid by anyone who works in the UK, earning over £184 per week. National Insurance was originally introduced as an ‘insurance scheme’ to provide benefits for those who can’t support themselves. However, it’s now viewed as […]
Find out morePensions provide a number of tax benefits that, when combined, can give a considerable boost to your final retirement fund. In this article, we explore these benefits and look at how you can make the most of your pension pot. Pension tax relief – what is it? One of the best reasons to save for […]
Find out moreProposed increases in National Insurance and Dividend Tax Yesterday (7/9/21) the UK Government announced its plans for a 1.25 percentage point increase in National Insurance Contributions (normally considered as a tax to fund pensions) and Income tax on dividends. The aim of the increases are to raise about £36 billion over three years, which is […]
Find out moreWhat are the questions need to answer for the Sponsor Licence? Find below the questions (verbatim) that need to be answered in the first stage of the Sponsor Licence request: Why are you applying for a sponsor licence? What sector you operate in? What are your opening/operating hours? You must provide an up-to-date hierarchy chart detailing any owner, directors and board […]
Find out moreOverview Brexit came into force on 1 January 2021. From this date employers wanting to recruit from outside of the UK need to follow the new immigration system. In most cases, this means that the employee will need a Skilled Worker Visa. To get this the employee needs to: have a job offer from a licenced sponsor be applying for a […]
Find out morePurpose of note In this note you can find information related to the new Job Retention Scheme rules ‘furlough rules’ that will be applied from 1 July 2021. Furlough scheme In March 2020, Chancellor Rishi Sunak introduced the Furlough Scheme, a subsidy aimed at helping companies forced to lay off employees because of COVID-19. In September 2020, the UK Government replaced the initial scheme with another scheme the Job Retention Scheme. This scheme […]
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