Autumn Budget 2024 – NIC changes

Autumn Budget 2024 – NIC changes

As had been widely predicted, the Chancellor announced increases to the rate of National Insurance contributions (NICs) that are paid by employers. The main rate of secondary Class 1 NICs will increase by 1.2% to 15% (from 13.8%) effective from 6 April 2025. The Class...
Budget summary 30 October 2024

Budget summary 30 October 2024

The long awaited, much anticipated and dreaded first Budget of the new Labour government was delivered to Parliament yesterday – 30 October 2024 – by the Chancellor, Rachel Reeves. We now know where the funds will come from to finance investment and...
Is Income Tax morphing into a stealth tax?

Is Income Tax morphing into a stealth tax?

It is rumoured that the Chancellor will delay any increase in the Income Tax higher rate tax threshold beyond the present April 2028 freeze. The UK Income Tax higher-rate threshold was last increased in April 2021, when it was set at £50,270. This amount was...
Crackdown on insurance fraud

Crackdown on insurance fraud

Insurance companies have united to step up efforts to crack down on fraudsters seeking to manipulate the UK insurance market with bogus claims and duping innocent people into buying fake insurance policies. In 2023 alone, 84,400 fraudulent claims worth £1.1...