Category: National Insurance Contributions
How to Change Accountant: A Stress-Free Guide for Business Owners
Switching accountants might seem daunting, but you don't need to wait until year-end to make the change. Your business or limited company can transition to WCL smoothly with minimal disruption. The switch makes sense when your current accountant fails to provide proactive advice or overlooks potential savings. The process works seamles...
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UK Employment Rights Bill Sets New Rules for Businesses
The Employment Rights Bill (the Bill), published back in October 2024, brings one of the biggest changes to UK employment law in recent years with 28 reforms in multiple areas and is very near the end of its Parliamentary journey. Those in the “know”, suggest the Bill will receive Royal Assent in November 2025 with the first provisi...
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Contractor vs Employee: The Truth About Hiring Costs in 2025
The contractor vs employee decision can save your business thousands of pounds if you understand the true cost implications. The UK has 2.05 million freelancers in 2024, and businesses are thinking over their hiring options more than ever. Contractors might charge higher hourly rates than employees, but the complete financial picture isn'...
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Changing from Sole Trader to Limited Company: Your Step-by-Step Blueprint
Are you running a sole trader business that's making £50,000 yearly profits? At the time your earnings hit this threshold, switching from sole trader to limited company status becomes a smart financial choice. Your growing business might make you think about changing to a limited company structure to save on taxes. In fact, the switch...
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How to Read a Balance Sheet: A Plain-English Guide for UK Business Owners
Reading your balance sheet isn't just good practice - it's crucial for any business owner. Your balance sheet shows what your business owns (assets) and owes (liabilities) at any given moment. This financial statement ranks among the most important documents that business leaders, regulators, and potential investors need to understand. ...
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2025/2026 Tax Rates and Allowances
The tax year runs from 6 April. Here’s an overview of the main tax rates, allowances and national Insurance contributions that you need to be aware of for the tax year starting 6 April 2025. If you have any questions, would like to understand what rates specifically apply to yourself, or what allowances are available, please get in t...
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Spring Statement 2025
On Wednesday 26th March 2025, Chancellor Rachel Reeves delivered her Spring Statement. In terms of announcements for the average person, it was fairly low key with many of the announcements more aimed at a national level in terms of defence spending, overseas aid, etc. That said, there were of course still announcements to be aware of. An...
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Statutory Payments Explained: Part Two
Welcome to part two of our three part series covering everything related to Statutory payments. In part one we went through what statutory payments are, the minimum earnings thresholds to receive them, the amount you can receive, etc. In this blog we will cover want you need to implement through your payroll systems and common pitfalls...
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Statutory Payments Explained: Part One
Statutory payments form the backbone of employee compensation in the UK, yet many businesses struggle to navigate these mandatory financial obligations correctly. In fact, recent HMRC data shows that thousands of companies face penalties each year for mishandling these essential payments. Understanding statutory payments is crucial for...
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Payrolling of Benefits: Your Guide to the New HMRC Rules
HMRC plans to reshape the scene of payrolling benefits with new mandatory reporting rules from April 2026. These changes will impact all employers and replace the current P11D system that processes about 4 million forms each year. Currently, P11D forms are submitted by employers by 6 July after the tax year ends. Under the proposed new...
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