Our Accountancy Blog

Items filtered by date: October 2015
Sunday, 11 October 2015 16:12

Scottish Income Tax

Had to check my diary to see if it was the 1st April today. Rather suprisingly it was not, hence the article read today in a taxation magazine must be true. The article stated that from April 2016 Scotland will have its own rate of income tax, which is likley to be 2% lower than the rest of the UK, at 18% for basic rate taxpayers.

 

Published in Accountancy
Wednesday, 07 October 2015 21:41

Self Employed NIC

The Government’s ‘triple tax lock’ prevents increases in many taxes, including employee and employer National Insurance Contributions. Employee NIC contributions are currently 12%.

However this means that self-employed National Insurance Contributions are fair game. It may be the case that the Government sees scope for a tax increase, by changing the rate of self-employed NIC contributions. Perhaps we might be looking at an increase from 9% to a figure similar to that being paid by employees of 12%.

Published in Accountancy
Tuesday, 06 October 2015 08:15

Student debts

Had a discussion with another client yesterday about the crazy system of univeristy student loan debts!

Published in Accountancy

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