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Budget stuff • Business Services • Business Tax • Personal tax • Small Business • Taxation

U-turn on NICs rate rise for self-employed

By RJP LLP on 20 March 2017

The government’s plans to increase business taxation with a rise to national insurance contributions (NICs) for the self-employed have been shelved in what is being described as a very embarrassing policy U-turn for Philip Hammond.

One of the surprise announcements of the Spring Budget 2017, class 4 NICs were set to increase to 10% from April 2018, before rising again to 11% in April 2019.

However, backbench MPs were highly critical of the plans because they breached the Conservative party’s general election manifesto commitment not to increase NICs, income tax or VAT. As a result of the negative outcry from businesses, politicians and individuals alike, the government declared they would abandon the plans. The existing policy to abolish class 2 NICs will still proceed from April 2018.

To discuss any aspect of business taxation, please contact us at partners@rjp.co.uk

Business Services

Probate and Inheritance Tax

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By RJP LLP on 22 November, 2023

I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.

Dan Cook, Probate client

I just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.

I Evans, CFO, Mobliciti

Just a quick e-mail from me to thank you for achieving the target for producing the draft accounts – it is very much appreciated and gives a first class impression of your firm. Many thanks.

J Stanfield, Chairman, BBS Actuaries Ltd

I would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.

M Goldsmith, Probate Client

RJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.

Outsourcing Client

60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.