Mind the NIC gap

Mind the NIC gap

Do you know whether your national insurance contributions (NIC) record is complete and correct?  You can check the NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate...
Companies Spared Tax Rises

Companies Spared Tax Rises

Last year the Chancellor Rishi Sunak proposed increasing corporation tax rates such that companies with annual profits of over £250,000 would pay tax at 25%. Those with annual profits of less than £50,000 would continue to pay tax at 19% but a marginal tax rate of...
HMRC ramps up tax enquiry activity

HMRC ramps up tax enquiry activity

HMRC continues to increase enquiry activity into tax compliance returning to pre-pandemic levels, and if not beyond. During the pandemic, HMRC changed its focus to delivering covid support programmes. Now, however, it is focusing intense efforts on cracking down on...
Tax Incentives in Investment Zones

Tax Incentives in Investment Zones

New changes where tax relief is concerned. The Government wants to designate up to 38 areas across England as investment zones which will benefit from special tax reliefs and relaxed planning laws. The tax reliefs will include: employers’ Class 1 NIC at 0% on...