Changes to VAT penalties and interest from 01 January 2023

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

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New VAT penalty regime and other VAT news

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

1.25% increase to NIC and dividend tax rates 

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

Budget 2021

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

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Update on Government schemes in response to COVID-19

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

Dividend 2017/18 and 2018/19

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

Autumn Budget 2017

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…

Changes to flat-rate VAT in more detail with examples

Self-employed Class 2 National Insurance will not be scrapped The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The government had…