How to set up and run a small business

Leaderboard – News

Leaderboard – Business Plans

Leaderboard – Start Ups

Leaderboard – Company (Ltd)

Leaderboard – Company (S/E)

Leaderboard – Run – Freelancers

Leaderboard – Run – Legal

Leaderboard – Run – People

Leaderboard – Run – Premises

Leaderboard – Run – Sales

Leaderboard – Run – Technology

Leaderboard – Tax

Leaderboard – Banking

Leaderboard – Finance

Leaderboard – Insurance

You are here: Home » Archives for national insurance contributions

national insurance contributions

Millions of small business owners will see the amount of tax they pay go up following the Spring 2017 Budget.

Chancellor Philip Hammond announced in his Budget speech, plans to increase the taxes paid by the self-employed and limited company directors.

Continue…

In this concise guide, we look at the taxes you will encounter if you start your own business as a sole trader, and other things you should bear in mind before taking the plunge and becoming self employed.
Continue…

National Insurance is a deduction from earnings, set up originally to fund various State benefits such as the NHS, the State pension and other welfare-related schemes.

In reality, it is just another tax. In fact, as standard income tax rates have remained constant for many years, NI rates have soared.

In this guide we look at how National Insurance works, and what your National Insurance Contributions (NICs) will be as a small business person. The guide has been updated with the NIC rates for the 2016/17 tax year. Continue…

At 1.30pm on Wednesday 16 March, 2016, George Osborne delivered his eighth Budget as Chancellor of the Exchequer.

The overall headlines include the introduction of a sugar tax on soft drinks from 2017, extra funding for schools to have longer days and a downward revision of growth forecasts for the UK, but what did Budget 2016 bring for small businesses?

Here are the main points that affect business owners, both self-employed and limited company directors; Continue…

From 6 April 2016, the way dividend income is taxed will change significantly. The changes will affect hundreds of thousands of small business owners, many of whom will see a big jump in the amount of tax they will have to pay.

At present, company dividends are treated as ‘tax paid’ in the hands of shareholders. However, from April 2016 the tax treatment of dividends will be altered dramatically, and as you can imagine, this isn’t going to result in limited company directors paying less tax! Continue…

With the plethora of tax rates, thresholds and allowances changing every year, here is ByteStart’s summary of the main tax rates, tax bands, and allowances for the 2014/2015 tax year. We focus on the figures that are of relevance to business owners.
Continue…

As a small business owner you may not have lots of money sloshing around. You know your staff are your most important asset, but you may not be able to afford to give them a pay rise.

So how can you be an attractive company to work for, motivate and reward staff and promote loyalty without increasing your pay bill?

Believe it or not, introducing employee benefits may be the answer. There is a range of benefits which won’t be a cost to your company and will actually provide savings by reducing your tax liability. These are known as salary sacrifice arrangements.
Continue…

When Lloyd George’s Liberal government first introduced National Insurance (NI) payments in 1911, the aim was to provide a safety-net for workers who fell on hard times.

The scheme took money out of workers’ wages, and in return they could get money from the government to pay for medical treatment, or if they lost their job.
Continue…