Autumn Budget 2024: Employment

Employees and NICs From 6 April 2024 the main rate of Class 1 employee NICs is 8%. The employer rate is 13.8%. The government announced that it will increase the employer rate from 13.8% to 15% from 6 April 2025. The Secondary Threshold is the point at which employers become liable to pay NICs on an individual employee’s earnings, and is currently set at £9,100 a year. The government wi… Continue Reading

Autumn Budget 2024: Business

Corporation Tax rates The government has confirmed that the rates of Corporation Tax will remain unchanged, which means that, from April 2025, the rate will stay at 25% for companies with profits over £250,000. The 19% small profits rate will be payable by companies with profits of £50,000 or less. Companies with profits between £50,001 and £250,000 will pay tax at the main rate re… Continue Reading