Under the Chancellor's new tax plan announced yesterday, employees are set to earn up to £12,570 before having to pay the National Insurance tax, as well as a reduction in income tax, which will offset the cost of the imminent Health and Social Care Levy. SMEs are also set to benefit from an increased employment allowance of £5000. This will release enormous amounts of money from NI for around half a million companies. With our industry better qualified than any other to comment - do you believe this plan will have a significant impact on businesses?
Posted by Accountants' Club at 2022-03-24 17:47:15 UTC