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Understanding National Insurance

National Insurance (NI) contributions allow those who pay them to qualify for benefits such as the state pension. They are paid by anyone who has reached the age of 16, is employed, and earns a weekly wage of over £153. Those who are self-employed must pay NI contributions if their annual profit is more than £5,885. Contributions vary according to the (more…)

HMRC appealing Rangers tax defeat

HM Revenue and Customs has asked for time to appeal a ruling made over a benefits trust used by Glasgow Rangers to remunerate both staff and (more…)

More tax powers for Scotland if independence gets “no” vote

Each leader from the three major political parties has pledged that new legal and tax powers will be granted to Scotland if Scottish independence is voted against in the (more…)

Increased worries over NHS trust finances

Concerns are rising over NHS trusts’ financial stability, with over one third of reports emphasising cost-effectiveness issues for 2013-2014.

The Audit Commission reviewed (more…)

HMRC breaks business checks record

HMRC’s inquiries increased by 2,084 in the last financial year to 5,515 – a rise of 60 per cent, according to the tax investigations experts at (more…)