As of February 26, 2025, small businesses in the UK are preparing for several significant financial changes stemming from recent HM Revenue & Customs (HMRC) legislation and government policies. These changes, set to take effect in the upcoming months, will impact taxation, reporting requirements, and available reliefs. Below is a detailed overview to help small business owners navigate the forthcoming adjustments. 1. Increase in Employer National Insurance Contributions (NICs) Effective from April 2025, employer NICs will rise by 1.2 percentage points, increasing the rate from 13.8% to 15%. Additionally, the salary threshold at which employers begin paying NICs will decrease
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