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On top of the 1p cut to the National Insurance rate that was announced in last year’s Autumn Statement, the Spring Budget announced in March 2024 introduced a further 2p cut.

This means that for self-employed workers paying Class 4 National Insurance contributions (NICs), the rate will drop from 9% to 6% for the tax year from April 2024 to April 2025.

Following the UK general election on 4th July 2024, the Labour Party returned to power after 14 years of Conservative governance, led by the new Prime Minister, Sir Keir Starmer.

After quickly assembling his Cabinet, there is a heavy weight of expectation on Starmer’s Labour government – but what can we expect to happen within its first 100 days?

Here’s what we know so far about the Labour government’s plans for the next few months.

In January, the UK government introduced a zero emission vehicle mandate, which requires 100% of new cars and vans to be zero emission vehicles by 2035.

Despite this, electric car sales seem to have been stalling recently – perhaps due to difficult economic conditions with high interest rates.

One way to make electric vehicles more accessible to individuals is to use them in salary sacrifice schemes, as the taxable benefit is low for employees.

While it might seem counter-intuitive, opting into a salary sacrifice scheme for an electric car and taking the pay cut could actually boost an employee’s take-home pay, thanks to reduced Income Tax and National Insurance Contributions (NICs).

Relying on a homemade will comes with the risk of it being found invalid, as highlighted by the recent legal case of Ingram and Whitfield v Abraham 2023.

In this case, Joanne Abraham’s children were the original beneficiaries of her estate, but a homemade will drafted by her brother claimed that he should be the inheritor. However, the court found this will to be invalid, so Joanne’s estate went to her children after all.

Here’s what you should be aware of regarding invalid wills and the importance of keeping a well-written will up to date with Inheritance Tax (IHT) changes.

The controversial Renters Reform Bill has taken a long time to pass through the House of Commons. After making some concessions in favour of landlords, the Bill must proceed through the House of Lords before becoming law.

So, what are the concessions, and how are leasehold properties affected? Here’s what landlords can expect if the Renters Reform Bill becomes law.

In a bold move that took everyone by surprise, including members of his own party, Prime Minister Rishi Sunak announced on 22nd May that the next UK general election will take place in several weeks – on 4th July 2024.

Earlier in the year, Sunak said that he was working with the assumption that the election would be held ‘in the second half of the year’. While most people expected a winter election, the July date technically meets that description.

So, what happens next, and what does this mean for UK tax policies?