Posted in the National Insurance Category

Mind the NIC gap!

Posted 1 week ago

When was the last time you checked your national insurance (NI) record for unexpected gaps or viewed your state pension forecast?

Employer's national insurance increased

Posted November 2nd 2024

The Chancellor has announced that the main rate of secondary Class 1 national insurance contributions (NIC) for employers will increase by 1.2 percentage points from 13.8% to 15% from April 2025.

National insurance rates cut again

Posted March 14th 2024

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

Deadline extended for voluntary NIC payments

Posted September 8th 2023

HMRC has given taxpayers an extra two years to plug any gaps in their NIC record from April 2006.

You can check the NIC record over your entire working life on your online personal tax account (www.gov.uk/personal-tax-account). This will also provide an estimate of the state retirement pension you should expect to receive when you retire.

Company Accounts

At B20 Wessex we are Chartered Certified Accountants with years of experience in advising businesses on how to maximise their company tax savings.

Payroll Bureau

The B20 Wessex Payroll Bureau offers a comprehensive range of services for your business at competitive rates. We offer our customers a comprehensive payroll service, supporting your business at the fraction of the cost of a full time member of staff.

Self Assessment Tax Returns

If you are in business as a sole trader you are personally responsible for your business activities. Talk to us for more information about sole trader responsibilities and advice on becoming a sole trader.

Management Accounts

As a chartered, certified accountant we are well qualified to help you prepare your management accounts on a regular basis, so that you can keep track of your business.