National insurance thresholds rise to £9,500

The Treasury is to raise the national insurance thresholds for 2020/21, saving the average employee around £104. According to legislation approved in parliament on 30 January 2020, the £8,632 threshold at which employees start paying class 1 national insurance...

National living wage to rise by 6.2% for 2020/21

The hourly national living wage rate for over-25s will increase from £8.21 to £8.72 for 2020/21. The Low Pay Commission has published recommendations for the new rates, which kick in from 1 April 2020. The increase to the national living wage in 2020/21 will have a...

Christmas payroll advice for employers

Employers that are planning to pay workers earlier than usual over Christmas can benefit from a temporary relaxation of real-time reporting of payroll. The usual rule requires employers to report their payroll information through real-time information (RTI) to HMRC on...

Higher-rate earners hit by NICs rise

Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a measure not mentioned in the Budget speech. In Budget 2018, the Chancellor announced that the higher-rate income tax...

Treasury eyes ‘off-payroll’ crackdown

The Treasury is adding the finishing touches to revamped tax rules which in their current form are seen as enabling the self-employed to pay less in national insurance contributions, according to the BBC. Self-employed people who set up private companies to take on...