The spring statement – what it means
Chancellor Rishi Sunak delivered his Spring Statement in the midst of a genuine living crisis, and the highest public debt in decades.
New National Insurance rate
To help pay for the NHS and social care from April 2022 1.25% will be added to all National Insurance rates – employee, employer and dividend tax. From April 2023 this will show as a seperate item on your payslip or tax return.Furlough and Company Accounts
All companies that have received furlough payments MUST file company accounts for these relevant years. HMRC will be checking payments have been made to active companies and that the relevant accounts for the period have been filed.Limited companies, Tax, dividends, National Insurance
The best way to pay yourself is through your own Limited company. You go on your own payroll which reduces company tax and then top up your personal income each month with a dividend paid from profits. This dividend is free of National Insurance (NI) and taxed at a...Paying tax online
Go to www.tax.service.gov.uk/pay – pick what tax you wish to pay, do not sign in, insert your reference for that particular tax and then pay by card or bank transfer. If you wish to still pay by cheque you can forward an HMRC payable cheque via your Accountant. If you...Furlough – beginning of the end
From 1st July the furlough scheme begins to unwind.