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Category: <span>National Insurance</span>

Hidden Pension Benefits for Grandparents and Relatives

Unlock an extra £3,600 in State Pension Did you know grandparents, aunts, uncles and other family members can claim extra National Insurance (NI) credits for helping care for children? These credits can add up to £3,600 per year on your state pension! Who qualifies? Parents who don’t live with the…

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Autumn Statement Summary

On 22nd November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the ‘biggest permanent tax cut in modern British history for businesses’. Below, we summarise the Autumn Statement headlines and other measures announced. Please…

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Tax Update October 2023

Welcome to the October 2023 Tax Update. In this edition we take a look at Profit Forecasts, the Autumn Statement, Inheritance Tax, National Insurance Refunds; and this month’s events on the accounting horizon. If you need any help or advice on any of these topics, please do not hesitate to…

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Tax Update July 2023

Welcome to the July 2023 Tax Update. In this edition we take a look at Super Deduction’s replacement, the extended deadline for topping up NI contributions, the VAT flat rate scheme, working from home, school fees plans, and this month’s events on the accounting horizon. If you need any help…

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Further extension to voluntary NI contributions deadline

The UK Government is giving people more time to pay National Insurance contributions towards their State Pension. Taxpayers now have until 5th April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension – an extension of nearly 2 years. Extending the…

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Are you retiring soon? - Check your entitlement to the State Pen

Check your entitlement to the State Pension now!

State Pension Update – Tuesday 7th March 2023Since this Insight was posted on 23rd February 2023, HMRC has announced an extension to the deadline to pay missing NI years to 31st July 2023.CLICK HERE to visit HMRC’s announcement If you are planning to claim the UK state pension you should…

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Increase in National Insurance thresholds

In the Spring Statement 2022, the UK Government announced an increase in National Insurance thresholds affecting the 2022 to 2023 tax year. We want to take the opportunity to remind our clients that the threshold changes will take effect from 6th July 2022, meaning employees will pay National Insurance contributions on…

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Working past retirement age

There are many taxpayers who have reached the State Pension age and continue to work. In most cases they no longer need to pay any National Insurance Contributions (NICs). At State Pension age, the

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