Tax - National Insurance

Recently added Tips & Advice

NATIONAL INSURANCE - 19.10.2020

Are you too late to claim an NI refund?

For some years you’ve simultaneously been an employee or director of a few companies. You’ve paid NI contributions on your earnings from each and you think you might have paid too much. Are you too late to claim a refund?
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NATIONAL INSURANCE - 06.10.2020

Government to introduce NI exemption

It was a manifesto commitment in the 2019 General Election that the government would support former service personnel into employment. This will be done through the introduction of an NI contribution holiday for those organisations who employ a veteran in their first year after leaving the armed forces. This will be introduced from April 2021, but as HMRC is unable to amend its systems for the first year of the exemption, employers will have to reclaim the NI after the end of the tax year. It’s likely that a new NI table letter will be introduced in April 2022 to automate the system. ...
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NATIONAL INSURANCE - 22.09.2020

Employment allowance trouble

Problems with HMRC’s NI system are impacting employers who are receiving incorrect demands. What’s the issue and how should you respond if you receive a bill from HMRC?
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NATIONAL INSURANCE - 08.09.2020

New NI break for employers

NI holiday. Following up on an election promise the government has proposed that from 6 April 2021 employers who take on former members of the armed forces will not have to pay employers’ NI contributions on their wages for twelve months. For example, this would save an employer around £2,250 based on an annual salary of £25,000. The exemption will be limited to the NI upper earnings threshold, currently £50,000 per year. Normal NI rates would apply to pay in excess of that. ...
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STUDENT LOANS - 08.09.2020

New student loan plans

Another student loan plan. Employers will soon have to deal with yet another student loan repayment scheme. In April 2021 Scotland will raise its student earnings threshold to £25,000 for new and existing borrowers and the repayment period will reduce to 30 years from 35. The changes mean that for 2021/22 and later years there will be a Scottish Student Loan Plan type (Type 4) which will apply to employees who have a student loan from Scotland. Employers will be notified where an employee’s plan type moves from Type 1 to Type 4, using the current SL1/PGL1 notification process, in time for April 2021. Payroll software should take care of the calculation, but as an employer you need to be aware. ...
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LOSSES - 07.07.2020

Tax-efficient incorporation of a loss-making business

You’re about to transfer your sole trader business to a company of which you’re the main director and shareholder. The business made losses in the last trading period before the transfer. How can you maximise tax relief for these?
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Tax - National Insurance

Most read Tips & Advice

NATIONAL INSURANCE - 08.09.2020

New NI break for employers

NI holiday. Following up on an election promise the government has proposed that from 6 April 2021 employers who take on former members of the armed forces will not have to pay employers’ NI contributions on their wages for twelve months. For example, this would save an employer around £2,250 based on an annual salary of £25,000. The exemption will be limited to the NI upper earnings threshold, currently £50,000 per year. Normal NI rates would apply to pay in excess of that. ...
Read more

NATIONAL INSURANCE - 06.10.2020

Government to introduce NI exemption

It was a manifesto commitment in the 2019 General Election that the government would support former service personnel into employment. This will be done through the introduction of an NI contribution holiday for those organisations who employ a veteran in their first year after leaving the armed forces. This will be introduced from April 2021, but as HMRC is unable to amend its systems for the first year of the exemption, employers will have to reclaim the NI after the end of the tax year. It’s likely that a new NI table letter will be introduced in April 2022 to automate the system. ...
Read more

NATIONAL INSURANCE - 22.09.2020

Employment allowance trouble

Problems with HMRC’s NI system are impacting employers who are receiving incorrect demands. What’s the issue and how should you respond if you receive a bill from HMRC?
Read more

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