The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have significant repercussions for UK businesses. Employers’ NICs are essentially a tax on wages, paid by businesses as a percentage
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 increase by 1.2% to 15%
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 National Insurance
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% (down from 9% in
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: