Regularly visiting official government websites, subscribing to updates from reputable financial news sources, and consulting with tax professionals can help you stay informed about upcoming tax changes and their potential effects on your business or personal finances.

To mitigate the impact of increased NICs, the employment allowance will rise from £5,000 to £10,500. Additionally, the £100,000 threshold for the employment allowance will be removed, benefiting approximately 865,000 employers in the 2025/2026 tax year.

The combination of higher employer NICs, increased National Living Wage, and elevated business rates is expected to strain the retail sector. These factors may lead to higher prices, potential job losses, and reduced investment, particularly affecting high street retailers.

The rise in employer NICs contributes to higher operational costs for businesses. Sectors with thin profit margins, such as retail and hospitality, may face financial challenges, potentially leading to increased prices for consumers and adjustments in hiring practices.

Starting from April 6, 2025, the rate of employer National Insurance contributions (NICs) will increase from 13.8% to 15% on salaries above £5,000. Additionally, the threshold at which employers start to pay NICs will be reduced from £9,100 to £5,000.

To make sure your business stays compliant with UK tax laws, it's important to maintain accurate financial records and keep up-to-date with the latest tax regulations. At ell4taxes, we provide ongoing support with tax returns, VAT filings, corporation tax, and payroll compliance. We also monitor any changes in tax legislation, helping you adjust your strategies as needed, to stay fully compliant.

Cloud-based accounting allows you to access your financial data from anywhere, at any time, while ensuring that your records are secure and up-to-date.

Yes, ell4taxes can help you reduce your tax liabilities by reviewing your financial situation and finding opportunities to lower the amount of tax you need to pay. We’ll guide you on how to make the most of tax allowances, reliefs, and deductions, ensuring that you pay no more than you’re required while staying fully compliant with UK tax laws.

Yes, but do you have the time, energy and knowledge? If not, it is usually best to outsource it and then focus on your core business. We recommend ell4taxes!