Showing posts with label Best business startup UK. Show all posts
Showing posts with label Best business startup UK. Show all posts

Wednesday, December 7, 2016

Abolishment of Class 2 NI from 6 April 2018

From 6 April 2018 Class 2 contributions will be abolished and Class 4 contributions reformed to include a new threshold (to be called the Small Profits Limit).
The self-employed currently have to work with two separate classes of NICs, the Class 2 NI and the Class 4 NI. You usually pay 2 types of National Insurance if you’re self-employed:
On Class 2 a self employed pays £2.80 a week if your profits are £5,965 or more a year
On Class 4  9% if your profits between £8,060 to £43,000 or 2% on profits over £43,000 more a year

This measure will mean that from April 2018 they will only have to engage with one class of NICs, delivering a simpler overall regime for the self-employed. In particular this will have a positive impact on sole traders, small partnerships and unincorporated enterprises with profits above the new Small Profits Limit. . For those with profits above the Small Profits Limit this measure is likely to have a positive impact as they will now only have to deal with one Class of contributions (Class 4) instead of Class 2 and Class 4 contributions reducing system complexity.

All those with profits at or above the Class 4 Small Profits Limit will gain access to the new State Pension, contributory Employment and Support Allowance (ESA) and Bereavement Benefit.

Thursday, September 15, 2016


Wednesday, April 20, 2016

Online Company Formation UK

Tuesday, April 12, 2016

Accounting Services UK

Saturday, February 6, 2016

Accounting services UK