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National Insurance

Working In The “Gig” Economy

The House of Commons Work and Pensions Committee has recently published a report calling on the Government to close the loopholes that allow “bogus” self-employment practices, which burden the welfare state but reduce the tax contributions needed to sustain it. This follows the “Matthew Taylor” inquiry which took evidence during February and March 2017 from […]

Read more August 9th, 2017

Salary Sacrifice Rules To Be Tightened Up

Many employers now provide flexible remuneration packages. These allow employees to give up some of their contractual salary in exchange for benefits in kind. This can have the effect of saving tax and National Insurance contributions for both the employee and employer, particularly where the benefit provided is exempt from tax. These tax and NIC […]

Read more November 29th, 2016

2012/13 PAYE & National Insurance

Income Tax Allowances The basic personal allowance for 2012/13 will be increased to £8105 and the tax code for emergency use will be 810L. Income tax bands and income tax bandwidths for the 2012/13 tax year are as follows: Rate % Bandwidth Basic Rate 20% £1 to £34,370 Higher Rate 40% £34,371 to £150,000 Additional […]

Read more March 19th, 2012

Cycle To Work Schemes

Have you introduced one of these schemes, or ever considered doing so? In the right circumstances (mainly depending on how far you have to travel from home to work, naturally enough) there are significant tax breaks available and they have now been made more flexible where the bicycle is sold to the employee later on. […]

Read more October 15th, 2010