In an attempt to popularise the use of its app, HMRC is launching a new advertising campaign aimed in particular at 18 to 34 year olds.More than 1.7 million people are already using the HMRC app every month, which enables users to access services such as making a Child Benefit claim, finding their National Insurance number and…
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Managing increase in Employers NIC
The upcoming increase in employer National Insurance Contributions (NICs) in the UK, set to rise from 13.8% to 15% from 6 April 2025, along with the reduction of the secondary threshold from £9,100 to £5,000, will significantly impact business costs. To mitigate these effects, employers can consider the following strategies:1. Use the Enhanced Employment AllowanceThe Employment…
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Consequences of the NLW and NMW rate increases next year
The proposed increases to the UK National Minimum Wage (NMW) and National Living Wage (NLW) set for April 2025 are expected to impact employers and employees significantly. Here's how various sectors might feel these changes: Financial Pressures on Employers: With the NLW expected to rise to approximately £12.21 for those over 21, and NMW rates for…
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Government crack-down on late payers
The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research, leads to 50,000 business closures a year.The government will consult on tough new laws which…
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