Autumn Budget 2024 – NIC changes

Autumn Budget 2024 – NIC changes

As had been widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) that are paid by employers. The main rate of secondary Class 1 NICs will

Boosting your State Pension

Boosting your State Pension

HMRC has issued a new press release reminding readers of a limited-time opportunity to enhance their State Pension. Currently, there is an opportunity for affected individuals to address gaps in their

Class 4 National Insurance payments

Class 4 National Insurance payments

Self-employed individuals are usually required to pay Class 4 National Insurance contributions (NICs) if their annual profits exceed £12,570. For the 2024-25 tax year, Class 4 NIC rates are set at 6%

Deferring Class 1 NIC contributions

Deferring Class 1 NIC contributions

Employees with more than one job may be eligible to defer or delay paying Class 1 National Insurance in certain situations. This deferment can be considered if any of the following apply:

You pay

Present self-employed NIC rates

Present self-employed NIC rates

Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for

The NIC Employment Allowance

The NIC Employment Allowance

The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if this covers their

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