National Insurance threshold increases from 6 July Changes to the National Insurance threshold come into effect from 6 July 2022. During the Spring Statement in March, the Chancellor increased the National Insurance threshold for the 2022/23 tax year. From 6 July, the threshold will increase from £9,880 to £12,570. This brings NICs in line with income
The Prime Minister has announced a 1.25% National Insurance increase to fund the health and social care system, after it has been hit hard by Covid over the past 18 months. The National Insurance increase will take effect from April 2022. Employees, companies, and freelancers will pay the new 1.25% tax, which will be
The UK government recently introduced an Income Tax exemption on coronavirus antigen tests for employees. The tax exemption came into effect on 8th December 2020 and is expected to end on 5th April 2021. The Association of Taxation Technicians (ATT) is calling for the tax exemption to be extended beyond 5th April 2021. The current
The end of the Brexit transition period signified new rules for the UK. From 1st January 2021, where workers/employers pay social security contributions will depend on certain criteria, including the country in which work is being undertaken. For work in the EU, Switzerland or Norway, a worker will only need to pay into one country’s
The new Income Tax exemption came into effect from 8th December 2020 in relation to employers providing their employees with a coronavirus antigen test. This new temporary exemption will ensure that employees who are given a relevant coronavirus antigen test, will not be liable to an Income Tax benefit in kind charge. A benefit in
