Tag Archives: national insurance

Analysis of the Summer 2015 Budget

Chancellor of the Exchequer George Osborne presented the post-election Summer Budget on July 8 – the first Conservative only ‘red briefcase’ speech since 1996.   He described it as a Budget for working people and a continuation of the Government’s aim of creating a ‘higher wage, lower tax and lower welfare’ country. It was crammed… Read More »

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Some changes to be aware of for 2014 /15 – Class 2 NICS and SEE

Some changes to be aware of for 2014 /15   Class 2 National Insurance contributions (NICs) are becoming an annual charge for the majority of those who are self-employed for the 2015-16 tax year onwards.  As a result Class 2 liability will not be determined until the Self-Assessment return is filed. Small Earnings Exception (SEE)… Read More »

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Autumn Statement 2014 & Budget 2015 (Key Points)

Autumn Statement 2014 & Budget 2015 (Key Points) 1 Income Tax personal allowance in 2016-17 and 2017-18 The government will increase the Income Tax personal allowance to £10,800 in 2016-17 and £11,000 in 2017-18. In 2016-17 the basic rate limit will be £31,900 meaning that the higher rate threshold above which individuals pay income tax… Read More »

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