What are the consequences of higher National Insurance Contributions?
The increase in National Insurance Contributions (NICs) for employers that was announced in the 2024 Autumn Budget is due to take effect in a few months – from 6th April 2025.
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The increase in National Insurance Contributions (NICs) for employers that was announced in the 2024 Autumn Budget is due to take effect in a few months – from 6th April 2025.
As part of the Autumn Budget that was shared in October 2024, the government came up with a ‘roadmap’ for Corporation Tax that should provide more certainty for UK businesses.
The thresholds defining company sizes at Companies House haven’t been updated since 2016, but they have now been revised, with new thresholds coming into effect on 6th April 2025.
Despite the tax agency’s ambitions to move everything to digital platforms, HMRC is reverting back to paper-based forms for employees claiming employment expenses. This switch from online submission is an attempt to reduce fraudulent expenses claims.
The business rates system taxes the value of properties used for business, providing a stable source of government revenue to support essential local services like social care.
As the first Budget from the new Labour government, which has been vocal about the difficulty of filling a ‘fiscal black hole’ left by the previous Conservative government, the October 2024 Budget introduced some tough changes for employers.
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