In 2016 the government consulted on a proposed abolition of Class 2 National Insurance Contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the level of profits.
Read morePayroll
You can now view your State Pension forecast online
Did you know that you can now view your National Insurance record online?
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National Minimum Wage Increase
The national minimum wage increased for most age bands and apprentices from 1 October 2016.
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Could you pass a minimum wage inspection?
Most business owners are aware of the national minimum wage rates of pay, and pay their employees in accordance with this. However, if an employee made a complaint about you, how would you prove the correct amounts were paid?
Read moreHave You Updated Your Employees Tax Codes?
On the 6 April, the tax personal allowance (the amount you can receive before you pay tax) of everyone born after 1938 increased from £10,600 to £11,000.
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GreenStones Newsletter – Spring 2016
Take a look at our Spring 2016 Newsletter. It includes tax planning tips, our chosen charity for 2016 and our latest event details.
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7.5% INCREASE IN INCOME TAX ON DIVIDENDS TO PROCEED
The legislation to introduce the new system of dividend taxation announced in the Summer Budget has now been included in the draft Finance Bill.
Read moreAttention Contractors in the Construction Industry Scheme!
It is a common misconception that any gross payment status subcontractors can be omitted from your CIS returns.
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Have you submitted your form P11D?
The deadline for filing your 2014/15 returns of benefits and expenses paid to employees is 6 July 2015. There can be significant penalties for incorrect returns, so ensure all information submitted is correct.
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