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
Payments on account for self-assessment
Self-assessment taxpayers typically need to pay their Income Tax liabilities in three instalments each year. The first two payments on account are due by 31 January during the tax
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
An outline of the Employment Rights Bill
Legislation has been introduced in Parliament to upgrade UK workers’ rights.
The legislation is wide ranging with the intention of tackling poor working conditions and benefitting
New brooms to deliver better pension frameworks
The Department for Work and Pensions has published an outline of the new Pensions Scheme Bill. There are three main objectives that the government want to achieve, and they are set
Will 10% tax on business disposals survive?
While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming
Chancellor unveils new measures
Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include:
New funding for
Construction industry – VAT reverse charge
There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply
Using the GOV.UK ID Check app
The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed
Service tipping law now in force
New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the
New powers for banks to combat fraudsters
Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers.
Under new laws being proposed by the
New residence-based relief for non-doms
A reminder that the government has stated that it will remove preferential tax treatment based on domicile status for all new foreign income and gains (FIG) that arise from 6 April