As well as increasing National Insurance contributions from April 2022 – the 1.25% increase announced earlier this month – the Treasury also increased the hybrid income tax rates applied to dividends received, by the same amount and from the same date. The changes from April 2022 are: The first £2,000 of dividends received are free…
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HMRC warns students of tax scams
HMRC is warning university students new to the world of working to be wary of potential scams. With higher numbers joining university, we are likely to see more students take on part-time work. As many young people may be unfamiliar with HMRC and legitimate contact from the department could make them vulnerable to scams. There…
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NIC and Levy high jinks
No surprises when the Prime Minister announced a hefty 1.25% increase in NIC Class 1 and Class 4 rates from April 2022. The announcement was widely predicted. Effectively, this is a tax increase on earnings (employed or self-employed) and on costs for employers. It is odd that a 1.25% increase in Income Tax would have…
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Government backs UK entrepreneurs with six hundred million of Start Up loans
The UK Government’s Start Up Loans scheme has now provided £600 million in loans to small businesses outside London, providing extensive support for entrepreneurs across the UK. The initiative, run by the British Business Bank, was created in 2012 to provide a wide range of smaller businesses with more opportunities to create jobs, expand and…
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