National Insurance

Budget 8th July 2015 – Key Points

Below are the key points from George Osborne’s 2015 summer budget in relation to businesses and personal tax changes. Businesses Corporation Tax will be cut from its current rate of 20% to 19% in 2017 and 18% in 2020. National Insurance employment allowance for small...

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Budget 18 March 2015 – Key Points

Below is a summary of George Osborne’s 2015 budget, who promised a “No giveaways, no gimmicks” budget. Income tax The tax-free personal allowance to rise from £10,600 in 2015-6 to £10,800 in 2016-7 and £11,000 in 2017-8. The threshold at which people start paying 40p...

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NIC Employment Allowance from April 2014

Key Features Employers are required to make secondary Class 1 national insurance contributions (NICs) for their employees. From April 2014 every UK business will be allowed an annual employment allowance of £2,000 to offset against their employer NIC liability. This...

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