Research Briefing
This paper sets out direct tax rates and principal tax allowances for the 2019/20 tax year, as announced in the 2018 Budget on 29 October 2018. The paper outlines the conditions necessary for eligibility for these tax allowances, and provides a summary of the general tax position in straightforward cases.
Research Briefing
This paper looks at the way in which the self-employed are treated for the purposes of National Insurance, in the context of proposals made in the 2015 Budget to scrap Class 2 National Insurance contributions (NICs), and proposals in the Spring 2017 Budget to increase the rate of Class 4 NICs. In the latter case, the Government cancelled its plans a few days after the Budget, and in the former case announced in September 2018 that it would not proceed with the abolition of Class 2 NICs during this Parliament.
Research Briefing
The Social Security (Contributions) (Amendment) Regulations SI 2018/120 were laid on 1 February, and came into force from 6 April 2018.
Research Briefing
This paper sets out direct tax rates and principal tax allowances for the 2018/19 tax year, as announced in the Autumn Budget on 22 November 2017. The paper outlines the conditions necessary for eligibility for these tax allowances, and provides a summary of the general tax position in straightforward cases.
Research Briefing
A summary of Spring Budget 2017 and the Office for Budget Responsibility's forecasts for the economy and public finances. This briefing now includes detailed discussion of changes to National Insurance contributions for the self-employed and the tax-free allowance for dividend income.
Research Briefing
This paper sets out the main changes to direct tax rates and allowances announced in the Budget on 16 March 2016. It lists the principal personal allowances which will be available against income tax in the tax year 2016/17, and it outlines the conditions necessary for eligibility for these allowances. The paper provides a summary of the general tax position in straightforward cases only. It should be noted that it deals just with tax allowances. No reference is made to cash benefits provided under the social security system, or to child tax credit and working tax credit.
Research Briefing
The National Insurance Contributions (Rate Ceilings) Bill 2015-16 would prevent any increase in the current rates of Class 1 National Insurance contributions paid by employees and employers for the duration of the 2015-20 Parliament. It would also provide that the Upper Earnings Limit could not exceed the higher rate threshold - the sum of the personal allowance and the basic rate limit - as proposed by the Government in its pre-Budget proposals.
Research Briefing
This paper sets out the main changes to direct tax rates and allowances announced in the Budget on 18 March 2015, for the tax year 2015/16.
Research Briefing
The National Insurance Contributions Bill 2014-15 would allow for both categories of National Insurance contributions (NICs) which are payable by the self-employed – Class 2 and Class 4 – to be collected through self assessment from April 2016. The Bill would also extend existing tax rules regarding ‘accelerated payments’ and ‘high-risk’ tax promoters to NICs, and introduce a Targeted Anti-Avoidance Rule to prevent the avoidance of NICs by ‘intermediaires’.
Research Briefing
This note covers the contribution conditions for the basic State Pension
Research Briefing
The National Insurance Contributions Bill 2014-15 would allow for both categories of National Insurance contributions (NICs) which are payable by the self-employed – Class 2 and Class 4 – to be collected through self assessment from April 2016. The Bill would also extend existing tax rules regarding ‘accelerated payments’ and ‘high-risk’ tax promoters to NICs, and introduce a Targeted Anti-Avoidance Rule to prevent the avoidance of NICs by intermediaires.
Research Briefing
Self-employed people are eligible for the same contributory benefits and pension as employed earners, with one exception. Self-employed people cannot claim contribution-based Jobseeker’s Allowance (JSA).
Research Briefing
The National Insurance Fund had been in healthy surplus, but this has been declining sharply in recent years to the extent that without Treasury finance the balance on the Fund is projected to fall below the recommended minimum in 2014/15.
Research Briefing
This paper sets out the main changes to direct tax rates and allowances announced in the Budget on 19 March 2014.
Research Briefing
The main purpose of the National Insurance Contributions Bill 2013-14 is to implement the new Employment Allowance - which allows businesses to claim up to £2,000 from their annual payment of NICs. The Bill also contains a number of miscellaneous measures announced in Budget 2013 relating to the scope of NICs. This note gives an overview of the Bill’s scrutiny to date. It is complemented by a Library Research paper prepared for its Second Reading debate (RP13/60, 20 November 2013).
Total results (page 3 of 4)