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A healthy credit score has its benefits, so make sure you manage your debt correctly.
Discover the best travel insurance policy for your next trip.
Find current accounts offering in-credit interest rates up to 5.00% AER.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
With Employee National Insurance contributions set to be cut to 10% this month, find out when this change is taking place and how it will affect your finances.
Cuts to National Insurance, unveiled by Chancellor Jeremy Hunt as part of the Autumn Statement, are set to take place this month.
They form part of a larger package the Chancellor said will “attract £20 billion additional business investment a year” to the UK, but what does this particular change mean for your own finances?
Cuts to Employee National Insurance contributions will take place on 6 January 2024.
This is unlike other fiscal changes announced as part of the Autumn Statement, such as an increase to the state pension and an alteration to the ISA allowance, which are scheduled for the start of the new tax year in April.
Importantly, while cuts to National Insurance for the self-employed were announced in the Autumn Statement, these won’t come into effect until the new tax year on 6 April 2024.
If you’re an employee of a company, you’ll see your Employee National Insurance contribution (Class 1 National Insurance) reduced to 10% from 12% in a change the Chancellor says will help “27 million people”.
As a result, the average worker on a salary of £35,400 will receive a tax cut of over £450 in the 2024/25 financial year, according to an example given in the Autumn Statement.
Meanwhile, if you’re self-employed, you’ll see Class 2 National Insurance abolished, while Class 4 National Insurance is set to be cut by one percentage point to 8%.
According to examples provided in the Autumn Statement, together these changes will benefit around two million self-employed individuals, saving the average self-employed person on a £28,200 salary £350 in the 2024/25 tax year.
Remember, though, these particular tax cuts won’t take place until the start of the next fiscal year in April.
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The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons yesterday. It’s anticipated to be one of the Government’s last fiscal events before a General Election takes place in less than a year’s time. Find out what some of the measures announced mean for your finances.
Find out what some of the measures announced in the 2024 Spring Budget mean for your finances.
With over 1.4 million people predicted to become higher-rate taxpayers by the end of the financial year, it’s crucial to understand your Personal Savings Allowance.
With over 1.4 million people predicted to become higher-rate taxpayers by the end of the tax year, it’s crucial to understand your Personal Savings Allowance.
Autumn Statement 2023 sees National Insurance contributions cut to 10% while the State pension is set to increase by 8.5%
National Insurance contributions cut to 10%; State pension set to increase by 8.5%
The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons yesterday. It’s anticipated to be one of the Government’s last fiscal events before a General Election takes place in less than a year’s time. Find out what some of the measures announced mean for your finances.
Find out what some of the measures announced in the 2024 Spring Budget mean for your finances.
With over 1.4 million people predicted to become higher-rate taxpayers by the end of the financial year, it’s crucial to understand your Personal Savings Allowance.
With over 1.4 million people predicted to become higher-rate taxpayers by the end of the tax year, it’s crucial to understand your Personal Savings Allowance.
Autumn Statement 2023 sees National Insurance contributions cut to 10% while the State pension is set to increase by 8.5%
National Insurance contributions cut to 10%; State pension set to increase by 8.5%
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.