In April 2023, we gave you the good news that the government had extended the deadline for paying voluntary National Insurance Contributions (NIC) to fill gaps in an NIC record which arose in the years 2006/2007 to 2016/17, from 5… Read more
On 6 April 2023, the pensions annual allowance increased from £40,000 to £60,000, and the pensions lifetime allowance was effectively abolished. You can now contribute far more to your pension funds each year, and so can your employer. Any unused… Read more
In March we reminded you to check whether your national insurance contribution (NIC) record contains any gaps, and how this could affect entitlement to the state retirement pension. The deadline for paying voluntary Class 3 NIC to fill any NIC… Read more
Many people don‘t realise that they have significant gaps in their National Insurance Contribution (NIC) record, and as a result they won‘t be entitled to the full state retirement pension. This can come as a shock when you start to… Read more
Personal allowance and income tax threshold The personal allowance for 2019/20 is set at £12,500 (£11,850 in 2018/19), and the basic rate limit will be increased to £37,500 (£34,500 in 2018-19). As a result, the higher rate threshold will be… Read more
