As a result of ‘administrative discrepancies’ by the Department of Work and Pensions (DWP), mothers may have been underpaid around £1bn in state pension. This has occurred due to information missing from the national insurance (NI) records.
The new tax year has begun; this means we can now submit your tax return for the year ending 5 April 2023. The final deadline may seem a way off, but submitting as early as possible is always preferable, so you are aware of any tax liabilities in good time. Here’s a checklist of things you may wish to consider.
After April 5 2025, you’ll only be able to fill National Insurance gaps going back 6 tax years, so if you have many years missing on your record, you should start considering what you can do about this.
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
Employers use an employee’s National Insurance category letter when they run payroll to work out how much they both need to contribute. Most employees
New health and social care Levy to be introduced across the UK to provide extra cash to reform the Health and Social care systems
The Employment Allowance enables eligible employers to reduce their National Insurance liability. The maximum allowance for the 2021-22 tax year is £4,000, or your total
If you have lost or forgotten your National Insurance number you should try and locate the number on paperwork such as your tax return, payslip or P60. You can also login to your personal tax account to view, download, print, save or share a letter
HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don't have an account, you can apply to set one up
Class 3 National Insurance Contributions (NICs) are a voluntary contribution paid by those wishing to fill gaps in their NICs contribution record and can be used by taxpayers who have not made sufficient compulsory contributions or are not liable to
HMRC has advised that it has changed its approach to charging financial penalties when enforcing the National Minimum Wage (NMW) where there has been a transfer of employees from one employer to another under the Transfer of Undertakings (Protection
The employment allowance of £3,000 per year is available to most businesses and charities to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process using either HMRC’s Basic PAYE Tools
