Balancing the books: navigating New Year payroll challenges

Balancing the books: navigating New Year payroll challenges

Many businesses are exploring salary sacrifice schemes as a strategic response to the upcoming increase in National Insurance Contributions (NICs) according to a survey conducted by BDO, involving 500 mid-market companies. Tracy Gill, Payroll Manager at Whitley...
Voluntary Class 2 NIC wrongly refunded

Voluntary Class 2 NIC wrongly refunded

If you made voluntary Class 2 national insurance contributions (NIC) for the 2022- 23 tax year, check whether this payment has been refunded in error by HMRC. Some self-employed taxpayers who made voluntary Class 2 payments by 31 January 2024 may have an unexpected...
National insurance rates cut again

National insurance rates cut again

The headline news from the Spring Budget was further cuts to national insurance contributions (NIC) of 2% each for self-employed taxpayers and employees.