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and other number related thoughts

So you heard the government announce the change to National Insurance contributions (NICs) from April 2022, but what does this actually mean to you?

We hate to talk about it so far from the day itself but we also like to be super organised and these things need planning! We don’t want to speak too soon but it’s looking like Christmas Parties could make a return this year - let’s assume for the purposes of this blog that things remain so we can celebrate this year, so the big question we’re covering here is "Is my Christmas Party tax deductible?"

Definitions pt 2

We’ve had a request for a follow up to a previous blog of accounting definitions, this time requesting some more basic terms to help people who don’t work in a finance role but need to understand the terms, such as when needing to order from suppliers, etc.

We often speak to people after they’ve set up a limited company and are needing help with fulfilling all the requirements of having one, often costing them money they were not aware they would need to spend - now we’re not saying you shouldn’t have a limited company, it’s just important to know all the facts...

For the millions of employed people in the UK (31.2 million in the three months to April 2021), their tax code is an important piece of information - defining how much you are allowed to earn without paying tax for the year, so it’s important that it’s right, but how do you tell? If it’s wrong you could end up overpaying tax or worst still underpaying and having an unexpected tax bill later on.

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