Category Archives: Payroll

National Insurance contributions checker

National Insurance contributions checker

HMRC have launched an online National Insurance contributions checker tool where you can estimate how the April 2024 NI changes will affect you or your employees. Some employees, by now, will have received a payslip reflecting the main Class 1 National Insurance contributions rate reduction from 6 April 2024 from 10% to 8% and others […]

2024 Spring Budget

2024 Spring Budget

Last week, the Chancellor made his 2024 Spring Budget speech, setting out the government’s plans. These include bringing forward a series of reforms to ensure the tax system is simple, fair and keeps pace with economic developments. Personal Tax in the 2024 Spring Budget Speech National Insurance contributions (NICs) The government has announced a cut […]

Student and Postgraduate loans

Student and Postgraduate loans

The Student and Postgraduate loans thresholds and rates from April 2023 will be as follows: plan 1: £22,015 plan 2: £27,295 plan 4: £27,660 postgraduate loan: £21,000 Deductions for: plans 1, 2 and 4 remain at 9% for any earnings above the respective thresholds postgraduate loans remain at 6% for any earnings above the respective […]

How you can pay yourself from your Limited Company

How you can pay yourself from your Limited Company

Congratulations! You’re now the Director of your very own company.  This is a very exciting time for you with lots going on. And because of that it’s easy to forget some of the fundamentals. Including how you can pay yourself from your Limited Company. And it’s not as straightforward as you may think. Being the […]