The National Minimum Wage will increase from 1 October 2016. The increase is following the Government’s decision to accept recommendations from the Low Pay Commission (LPC) earlier in the year.
The national minimum wage increases from 1 October 2015. This is great news for employees however substantially increased costs for employers! The national minimum wage amounts that employers must pay their staff have increased substantially. The Government has increased the Minimum Wage by 20p – from £6.50 to £6.70. The increase for Apprentices has also …
Chancellor George Osborne delivered the first fully Conservative Budget since 1996 earlier today. How will the measures affect you or your business?
The business community will welcome today’s Budget announcements with the continuing theme of growth, consistency and stability.
Here’s our Budget 2015 summary for business outlining the key announcements:
The government has announced plans to change how it collects Self employed National Insurance. Class 2 National Insurance, which is payable by the self employed and currently £2.75 per week, is paid upon receipt of a quarterly bill from the National Insurance Contributions Office or you can apply to pay monthly or six monthly by direct debit.
The changes will mean that self employed people will pay their Class 2 National Insurance together with their Income Tax and Class 4 National Insurance which is payable on 31 January (and 31 July in some instances).
HM Revenue & Customs have revised the Advisory Fuel Rates which should be used from 1 September 2014.
The Chartered Institute of Taxation
The Association of Taxation Technicians
