Renewed calls today to reduce taxation in order to boost the economy, this time coming from London Mayor Boris Johnson. Official figures are showing a minute growth of 0.2 percent between April and June this year, much below the expectations of many ministers. The same ministers are now putting pressure on Chancellor George Osbourne to [...]
Following on from our update late last year to reflect the tax rates and allowances for the upcoming 2011/2012 tax year, we have just completed the addition of a new unique feature to help you keep track of your personal taxation. In the UK, employed people pay Class 1 National Insurance Contributions on PAYE income [...]
Even though NIC rates are staying put for most people throughout the coming tax year, from April 2011 there will be increases made for employers, employees and the self-employed.
HMRC have amended the form CWF1 which is completed by those individuals who have set up a new business either as a sole trader or as a partner in a partnership. The form is used to notify liability to Class 2 National Insurance Contributions (currently £2.40 a week) amongst other things. Under the revised behaviour [...]