Tag Archives: National Insurance

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Coronavirus Job Retention Scheme – Frequently Asked Questions

Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept…
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Paying tax if you are self-employed

If you are a sole trader or an individual member of a partnership you will likely be subject to income tax, and possibly National Insurance, on your earnings. Unfortunately, tax being taxing, earnings for tax purposes may not be the same as the monthly drawings you take from your business. For example, you may decide…
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Small employers risk losing the employment allowance in 2020

Plans to remove the employment allowance for large employers from April 2020 could impact on smaller firms. This allowance provides employers with a reduction to their national insurance contributions (NICs) bill of up to £3,000. Employers that claim the allowance can carry it forward from one tax year to the next, but that will stop…
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