Monthly Archives: November 2015

Finance Bill: How does it impact you as an Employer?

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Changes to National Insurance Contributions ExplainedWhen the Finance Bill was announced earlier this year, the country held its breath to see what changes would be announced and what impact it would have on both businesses and individuals. Coming hot on the heels of the general election there was certainly at lot of speculation as to how the Government would look to capitalise on its new majority.

There were some interesting changes announced, particularly around National Insurance Contributions and the National Living Wage. It seems that the Government are trying to move away from a system of low wage, high tax, high welfare society, to a system where workers are paid a higher wage, retain more of it through lower tax and as such need to rely less on benefits.

In this blog we have outlined three changes we think will have the most impact on employers. It should be noted that although already announced, these changes won’t come into effect until April 2016.

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