by Ruth Clark | Apr 17, 2023 | Budget Announcement
Employees start paying Class 1 NICs from age 16 (if sufficient earnings). Employers pay Class 1 NICs in accordance with the table below. Employer NICs for apprentices under the age of 25 and employees under the age of 21 are reduced from the normal rate of 13.8% to 0%...
by Ruth Clark | Apr 12, 2023 | Budget Announcement, Tax
Pensions got a major overhaul in the Chancellor’s Budget announcements, with an increase in the amount you can put into your pension each year and an effective removal of the limit that your pension can reach before facing significant penalties of as much as 55%. Rise...
by Ruth Clark | Nov 9, 2022 | Budget Announcement, Business
The market volatility resulting from the ill-fated mini-Budget on September 23 has created real concern for investors. Most of the measures announced that day were reversed just weeks later, but the fallout has left markets in a state of turmoil. The FTSE 100 was at...
by Ruth Clark | Nov 2, 2022 | Budget Announcement
The majority of measures in former Chancellor Kwasi Kwarteng’s mini-Budget have been scrapped after new Chancellor Jeremy Hunt tried to settle markets and politicians across the House of Commons with an Emergency Statement on October 17. Gone is the controversial plan...
by Ruth Clark | Oct 14, 2022 | Budget Announcement, Tax
Extension of Incentives and reliefs for Business Investments through (EIS, SEIS, and VCTs) by Chancellor to boost growth in 2022 The government-backed schemes such as Venture Capital Trusts (VCTs) and the Enterprise and Seed Enterprise Investment Schemes (EIS and...
by Ruth Clark | Oct 5, 2022 | Budget Announcement, Tax
New chancellor Kwasi Kwarteng delivered his first mini-Budget, officially labelled ‘The Growth Plan 2022’, on September 23, and while it largely consisted of tax giveaways, it was not well received by markets. The FTSE 100 fell sharply on the day from 7,221 on...
