More about the NIC increases

I’ve heard it pointed out several times over the last two days that NIC “isn’t a tax”. Whatever was intended when it was introduced, it’s now levied on broadly the same earnings in broadly the same way to pay for broadly the same things. Members of the tax profession...
Increases in NIC rates announced

Increases in NIC rates announced

As widely predicted over the weekend, the Prime Minister is going ahead with his plan to raise NIC to improve funding for Social Care. As you will have seen this amounts to an increase of 1.25% and will apply to BOTH employee and employer NIC effective April 2022 –...
Scottish personal tax rates explored

Scottish personal tax rates explored

Who’d have guessed I lived in a tax haven? I’m no expert on Scottish politics, but it seems some commentators are suggesting the SNP coalition with the Greens may lead to higher taxes. This is maybe a good point to remind us all that the combined effect of income tax...

A Distinction for Stef

Absolutely amazing news that HRUX’s very own Stefania Fountain has been awarded a distinction in the ATT exams, paper 2 – Business Taxation. Stef joined us in September 2019 and has been exceeding expectations ever since. But this takes it to another level; what...
The UK’s strangely un-progressive personal tax bands

The UK’s strangely un-progressive personal tax bands

What’s the basic rate of tax in the UK? 20%, with the rate rising progressively for higher earners? Is there anybody left who’s taken in by this? If you earn £20,000 pa in the UK the total in payroll taxes for each extra pound you receive is 32% plus 13.8% paid...