What are the changes to National Insurance and the Minimum Wage?

Hello?There,?

In a strategic response to economic challenges, the UK Chancellor's 2023 Autumn Statement introduced substantial modifications to National Insurance (NI) contributions and the National Minimum Wage. These changes, backed by tangible figures, reflect the government's commitment to achieving a balance between keeping the economy stable and making work fairer for everyone.

It is important to note that the National Insurance changes for employees will come into effect in January 2024, while the adjustments to the national minimum wage and NI changes for the self-employed will take place in April 2024.?Read more...

Find out more here about the changes and implications they may have on you

You may also be interested in...

What is a budget?

As a business owner, it's crucial to set up a budget to manage expenses and plan for the future, especially in today's unpredictable business environment. A well-thought-out budget helps you keep track of your business's financial progress and plan strategically for the long term. Having a clear budget and business plan allows you to handle cash flow, allocate resources effectively, and take careful steps toward new investments. Read more...

Full Expensing – What is it?

The full expensing regime allows companies to write off 100% of the cost of investment in qualifying plant and machinery against taxable profits in one go. This means that companies can deduct the entire cost of a qualifying asset, such as equipment, machinery, or other property, from taxable profits in the year it is purchased.?Continue?reading...

Holiday closing times