Following the announcement in last year's budget that National Insurance rates were to rise, the time is almost upon us. Both employer and employee National Insurance contributions will rise by 1%.
This makes employment more expensive for employers and salaries after deductions less for employees. There are options for employers, such as issuing shares to employees and then paying dividends based on profits each year. This means no extra National Insurance but may not be right for the business.
If you need advice on this contact us today.