Impact on your net income from the Spring Statement
Budget update
National Insurance Contribution (NIC) is the hot topic of this Spring Statement. NIC rates increase, but NIC threshold also increases. NIC rates increase by 1.25% cross the board.   NIC changes Current From April 2022 Employee NI- Primary threshold to upper earnings limit (from £12,570 to £50,270) 12% 13.25% Above …
How will Autumn Budget affect small business owners?
Budget update
There are encouraging messages in the Budget for technology and innovation companies. Specific points are: R&D Expenditure Credit Scheme (RDEC) taxable credit will increase to 12% from 11%. Promise to double the EIS investment limit (currently £1m) for investors on knowledge incentive companies. £2.3bn more government investment on R&D. This …