Posts Tagged NICs

Greaves West & Ayre recently held two successful and well-attended Port Budget Rural Seminars.

The biggest revenue raiser in the Budget was the changes to NICs. The increase in Employers’ NICs (increasing from 13.8% to 15% from April 2025) grabbed many of the headlines. What has been largely overlooked is the reduction in “Secondary Threshold” from £9,100 to £5,000. Allied to the increase in the National Living Wage, the changes will particularly affect those in the care, retail, hospitality and cleaning/maintenance sectors.

Make your Christmas celebrations as tax friendly as possible by taking advantage of seasonal tax breaks.

Chancellor Jeremy Hunt has announced his Autumn Statement outlining measures to address the £55 billion gap in public finances and manage the impending recession. Here are the main points.

What's most tax efficient for Company Directors, a salary or dividends.

We are celebrating our payroll team in this newsletter who have gained prestigious industry recognition. We also look at options for company director salaries, HMRC reforms of accounting periods and how you must now submit VAT returns.

On 17 October the new Chancellor reversed almost all the mini-budget announcements made by Kwasi Kwarteng on 23 September.

Following the recent Bank of England interest rate rise, late payment interest rates levied by HMRC have been increased. 

Businesses are facing a perfect storm - rising inflation, increasing interest rates and higher energy costs. Make sure you have all the information you need to manage your finances.

In our first newsletter of 2022 we look at the rising cost of doing business, explore the changes to red diesel use and increasing employment costs. We also provide links to how you can better manage your finances in the tax year ahead as well as hearing from GWA's latest recruits as they start their careers.

The Government has announced an increase in National Insurance for all taxpayers all taxpayers, businesses and individuals, including the self-employed, to pay for the costs of the NHS and Social Care.