Government Scraps Its Plans to Abolish Class 2 NICs

Government Scraps Its Plans to Abolish Class 2 NICs

The government recently scrapped its plans to abolish Class 2 national insurance contributions (NICs). They were originally due to be abolished in April 2018, but the plans were delayed for a year until April 2019. The government has now announced that Class 2 NICs...
Class 2 Voluntary Contributions

Class 2 Voluntary Contributions

Although the self-employed heaved a sigh of relief when the Chancellor reversed his decision to raise the rate of Class 4 NIC recently, other changes in the structure of National Insurance will give cause for concern, particularly for those with low earnings. The...
2016 Budget Review

2016 Budget Review

Following on from the Chancellors 2016 Budget statement, we are pleased to provide you with our summary of all the key points, including: The new Lifetime ISA Cuts for Capital Gains Tax and Corporation Tax The restructuring of Stamp Duty Land Tax Abolishment of Class...
Deadline Dates – April 2015

Deadline Dates – April 2015

1 April 2015 Payment of corporation tax liabilities for SMEs account period ended 30 June 2014 where payment is not made by instalments. Reduction in main rate of corporation tax to 20%. Small profits rate is abolished except for ring-fence profits. Change to emission...

Paying Class 2 NIC Is Changing

In an attempt to simplify the administration of Class 2 NIC, HMRC have announced changes in the way contributions will be paid from 6 April 2015 onwards. Class 2 NIC (otherwise known as self-employed stamp) is payable by anyone who is self-employed, either as a sole...