by Gareth Thomas | Oct 13, 2025 | Accounting, Business, Employment, National Insurance, Taxes
Your tax code might look like a random mix of numbers and letters, but it plays a crucial role in making sure you pay the right amount of tax under PAYE. If it’s wrong, you could be paying too much — or too little — tax. Let’s break down how tax codes work, what the...
by Gareth Thomas | Oct 4, 2025 | Accounting, Business, Taxes
If you’re self-employed, you may have spotted something odd on your 2024/25 tax calculation. Some people have been charged Class 2 National Insurance contributions in error – even though the rules changed from 6 April 2024. So, what’s gone wrong, who’s affected, and...
by Gareth Thomas | Jul 29, 2025 | Accounting, Business, National Insurance, Taxes
Calculating National Insurance contributions (NICs) for company directors isn’t as straightforward as it is for most employees. Directors follow different rules—and depending on how and when they’re paid, the amount and timing of NIC payments can vary. If you’re...
by Gareth Thomas | Jul 11, 2025 | Accounting, Business, National Insurance, Taxes
If you’re self-employed and your profits are on the lower side, you might be wondering whether it’s worth paying voluntary National Insurance contributions—especially when they’re not automatically required. The good news is that in many cases, paying voluntary...
by Gareth Thomas | May 2, 2025 | Accounting, Business, National Insurance, Taxes
Some big National Insurance changes are on the horizon—and if you’re a business owner, it’s time to get prepared. In her Autumn Statement, Chancellor Rachel Reeves announced new rules affecting employers, employees, and the self-employed. These changes...
by Jon Davies | Mar 20, 2025 | Business, Finance, National Insurance
“Pensions” might be a boring word. Even more boring than “accounts”. Or “tax”. But it’s a bit more interesting when you can turn one £907 payment now into £342 per annum for life (and inflated every year!). Even Warren Buffett...
by Jon Davies | Mar 13, 2025 | Accounting, Business, Employment, Taxes
Over the last few weeks, I’ve mentioned a few tax changes that are coming in April, as announced by Rachel from Accounts in last year’s budget. And, this week, I thought I’d focus on the increase in minimum wage and the fact that it impacts a lot of...
