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Present self-employed NIC rates
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for
Claiming Child Trust Fund cash
If you turned 18 on or after 1 September 2020, there may be cash waiting for you in a dormant Child Trust Fund (CTF).
If your children recently turned 18 you should check to see if they have claimed
Qualifying for Business Asset Disposal Relief
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced
What is the new National Wealth Fund
The UK’s new National Wealth Fund (NWF) represents a significant shift in the government’s approach to fostering economic growth and addressing climate change. Established by the Labour government,
Could an interest rate reduction reduce government expenditure?
A 1% reduction in the Bank Rate would reduce the UK government’s annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is
Advising HMRC about additional income
There is an online tool available on GOV.UK that allows taxpayers to check if they need to advise HMRC about additional income they receive. The online tool can be found at
Claim tax deduction for working from home
Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief
Could you claim Pension Credits?
Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty.
The Department
Carry forward a company trading loss
There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future
Medical and dental care for employees
There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’
