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National Insurance articles

Features and articles from ICAEW on National Insurance in the UK tax regime.

Displaying 1-30 of 130 results
INSIGHTS VIEWPOINT Voluntary class 2 NIC repaid in error
  • Jun 2024
  • ICAEW Insights
HMRC has provided an update on an issue affecting voluntary class 2 national insurance contributions (NIC) for 2022/23.
Exclusive TAX FACULTY How to prepare for mandatory payrolling of benefits in kind
  • Jun 2024
  • Michael Nicolaides and Kym Wise
  • Taxline
HMRC has announced that employers must payroll benefits in kind from April 2026. In this article, Michael Nicolaides and Kym Wise consider what we do and do not know about HMRC’s plans, and how employers can begin to prepare for the changes.
INSIGHTS VIEWPOINT Special tax sites postcode reporting burdensome says ICAEW
  • May 2024
  • ICAEW Insights
Draft regulations requiring employers in freeport and investment zones to report workplace postcodes may deter claims for national insurance contributions (NIC) relief.
Exclusive TAX FACULTY TAXGUIDE TAXguide 04/24: The cash basis for trades: Q&As
  • May 2024
  • Richard Jones
ICAEW's Tax Faculty hosted a webinar on 18 April 2024 explaining the cash basis for the self-employed, including the changes that apply from the 2024/25 tax year. Answers to questions asked during the webinar are provided in this TAXguide.
INSIGHTS VIEWPOINT HMRC launches fully digital service for voluntary NI contributions
  • Apr 2024
  • ICAEW Insights
The government has launched a new service that allows individuals to identify gaps in their national insurance (NI) record and make voluntary contributions without phoning for a reference number.
Exclusive TAX FACULTY Faculty news: May 2024
  • Apr 2024
  • Frank Haskew
  • Taxline
Frank Haskew looks at the latest Tax Faculty activity, including TAM Day, ethics, regulation and HMRC service standards.
INSIGHTS VIEWPOINT Avoid payroll errors with HMRC’s online starter checklist
  • Apr 2024
  • ICAEW Insights
New employees should complete the starter checklist before their first payday so their employer can report the details via PAYE RTI to HMRC correctly first time.
INSIGHTS VIEWPOINT Public finances end financial year in weak position
  • Apr 2024
  • ICAEW Insights
Net debt represents a growing fiscal mortgage of £92,000 per UK household as a difficult financial year comes to a close.
TAX FACULTY TAXGUIDE TAXguide 03/24: Payroll rates, allowances and thresholds in 2024/25
  • Apr 2024
  • Tax Faculty
PAYE rates, thresholds, allowances, etc for employers in 2024/25 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK.
INSIGHTS VIEWPOINT Improved process for paying voluntary NIC for periods abroad
  • Apr 2024
  • ICAEW Insights
A person living or working abroad can apply digitally to pay voluntary NIC to fill gaps in their record.
INSIGHTS VIEWPOINT ICAEW gives five reasons to use the HMRC app
  • Mar 2024
  • ICAEW Insights
Join the 1.2m people a month using HMRC’s app to get tax information, stay up to date with tax payments and more.
Tax news in brief 27 March 2024
  • Mar 2024
Highlights from the broader tax news for the week ending 27 March 2024, including: NIC cuts effective from 6 April 2024; guidance on full-expensing; statutory notices to be sent to fishing boat owners; VAT refunds for museums and galleries; and how to recognise genuine contact from HMRC.
INSIGHTS VIEWPOINT Fiscal deficit still too high for comfort
  • Mar 2024
  • ICAEW Insights
Only a small improvement in the year-to-date deficit of £107bn reported in the penultimate monthly public finance release for 2023/24, over the same period a year ago.
Tax news in brief 13 March 2024
  • Mar 2024
Highlights from the broader tax news for the week ending 13 March 2024, including: the publication of legislation providing for the Spring Budget NIC cuts; changes made by secondary legislation across a range of areas, including R&D tax relief, PAYE and CIS; new HMRC guidance on ISAs; and the opportunity to claim a refund for Italian VAT paid on goods and services related to Italian business activities.
INSIGHTS VIEWPOINT Outlook for public finances broadly unchanged
  • Mar 2024
  • ICAEW Insights
Chancellor cuts national insurance again but defers difficult decisions on public spending until after the general election.
INSIGHTS VIEWPOINT A pre-election Budget lacking in rabbits or hats
  • Mar 2024
  • ICAEW Insights
An extension of full expensing to leases is welcome news for businesses in a Budget that delivers nothing unexpected.
INSIGHTS VIEWPOINT Government cuts NIC rates again for employees and self-employed at Spring Budget 2024
  • Mar 2024
  • ICAEW Insights
From 6 April 2024, the headline rate of NIC will fall from 10% to 8% for employees, and from 9% to 6% for the self-employed. The government will also consult on how it will abolish Class 2 NIC.
FACULTIES ONLINE TAX FACULTY TAX NEWS ICAEW suggests changes to offsets under off-payroll working rules
  • Feb 2024
  • ICAEW
A single determination of tax and NIC would simplify the offsetting process. The deemed employer should have the right to appeal against a determination.
INSIGHTS VIEWPOINT Modest boost to public finances won’t stop taxes rising
  • Feb 2024
  • ICAEW Insights
Prior month revisions boost public finances despite worse than expected self assessment receipts, as a think tank says tax cuts in the Budget will be sandwiched between tax rises in the years before and after.
Exclusive TECHNICAL ADVISORY SERVICES How end of class 2 NIC rate will affect self-employed people paying voluntary contributions
  • Feb 2024
  • Markel Tax
  • Markel Tax FAQ
FAQ on whether a self-employed client who has paid voluntary class 2 NIC, to get access to contributory benefits and state pension credit, must pay the higher Class 3 NIC voluntary rates when class 2 is abolished in April 24.
FACULTIES ONLINE TAX FACULTY TAX NEWS NAO finds room for improvement in HMRC’s monitoring of tax reliefs
  • Feb 2024
  • ICAEW
The NAO has published its findings and recommendations on how HMRC monitors the effectiveness of ‘non-structural’ tax reliefs.
FACULTIES ONLINE TAX FACULTY TAX NEWS Off-payroll working (IR35): offsets of tax and NIC
  • Jan 2024
  • ICAEW
Consultation on draft legislation and guidance for offsetting tax and NIC when an employment status determination is changed to ‘employed’.
INSIGHTS VIEWPOINT TECHNICAL ROUND UP ICAEW technical round-up: January 2024
  • Jan 2024
  • ICAEW Insights
This month’s top stories include mandated payrolling employer-provided benefits; information around the abolition of the pensions lifetime allowance; and an explainer on how to calculate NICs for directors.
INSIGHTS VIEWPOINT ICAEW CHART Public finances beat forecast amid tough economic landscape
  • Jan 2024
  • ICAEW Insights
Year-to-date deficit of £119bn is £5bn lower than latest Office for Budget Responsibility forecast – but is still £11bn worse than this time last year.
FACULTIES ONLINE TAX FACULTY TAX NEWS Calculating NIC for directors in 2023/24
  • Jan 2024
  • ICAEW
ICAEW’s Tax Faculty explains how to calculate national insurance contributions (NIC) for directors this year including where the alternative method is used.
FACULTIES ONLINE TAX FACULTY TAX NEWS Payrolling employer-provided benefits to be mandated from 2026
  • Jan 2024
  • Tax Faculty
The government will mandate the reporting and paying of income tax and class 1A national insurance contributions (NIC) on benefits-in-kind (BIK) via payroll software from April 2026.
Exclusive TECHNICAL ADVISORY SERVICES NIC rate reduction
  • Jan 2024
  • Markel Tax
  • Markel Tax FAQ
FAQ on the January 2024 reduction in the rate of National Insurance Contributions (NIC).
FACULTIES ONLINE TAX FACULTY TAX NEWS Car allowances and NIC
  • Dec 2023
  • ICAEW
HMRC updates its approach on the national insurance contributions (NIC) disregard for relevant motoring expenditure following Upper Tribunal decision.
FACULTIES ONLINE TAX FACULTY TAX NEWS Autumn Finance Bill and NIC Bill
  • Nov 2023
  • ICAEW
ICAEW’s Tax Faculty highlights the key measures included in the Autumn Finance Bill and the NIC Bill.
FACULTIES ONLINE TAX FACULTY TAX NEWS Autumn Statement: the tax changes that didn’t make the headlines
  • Nov 2023
  • ICAEW
ICAEW’s Tax Faculty scans the Autumn Statement documents for other tax-related announcements. Various tax measures can be found in the Overview of tax legislation and rates, the Autumn Statement, and updated Tax information and impact notes.
Displaying 1-30 of 130 results