Class 1 NICs zero rate band
Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NICs), and in some case income tax. The planning
Category: National Insurance
What is the best way to extract funds from your company?
Director shareholders are wont to ensure that they pay the lowest amount of tax and NIC consistent with their obligations under the relevant legislation. For many years, director shareholders have
Lost your National Insurance number?
Taxpayers who have lost or forgotten their National Insurance number should first try and locate the number on paperwork such as their tax return, payslip or P60. If the National Insurance number
Claiming the employment allowance
An annual employment allowance for businesses and charities, to offset against their employer's Class 1 NICs, was introduced in April 2014. The allowance can be claimed as part of the normal payroll
Spring Budget 2017 – Class 4 National Insurance Contributions
The Chancellor’s first Budget was a reasonable quiet affair against the backdrop of the Brexit negotiations. The Chancellor also has the opportunity for a second Budget later in the year as we move to
Claiming the employment allowance
In April 2016, the eligibility to claim the employment allowance was removed from limited companies with a single director and no other employees. This measure was put in place to ensure that
Tax credits for grandparents
The specified adult childcare credits were introduced with effect from the 2011-12 tax year. The credits allow for grandparents or other family members who care for a child aged under 12 whilst their
National Insurance numbers
Taxpayers who have lost or forgotten their National insurance number should first try and locate the number on paperwork such as their tax return, payslip or P60. If the National Insurance number