Making Tax Digital for landlords

Making Tax Digital for landlords

2 Jan 2024 | Tax Planning

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced from 6 April 2026 From the outset, it will apply to unincorporated traders and landlords with annual business and/or property income of £50,000 or more. It will be extended to...
NIC payable by the self-employed from April 2024

NIC payable by the self-employed from April 2024

2 Jan 2024 | News

The self-employed have historically paid two classes of National Insurance – Class 2 and Class 4. However, this is set to change from April 2024 with the abolition of Class 2 National Insurance contributions. What are Class 2 contributions? The payment of Class 2...
National Insurance cut for employees and directors

National Insurance cut for employees and directors

2 Jan 2024 | HMRC

In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from 12% to 10%. Rather than waiting until the start of the 2024/25 tax year to bring in the change, it applies from 6 January 2024. The...