Tag Archives: NICs

‘The Growth Plan’ seems to be on it’s knees. What does this mean for Bectu freelance members?

Update: I’m not deleting this post because I think deleting posts is usually a mistake. But I will say that most of what it contained on the 14th October 2022 was irrelevant three days later as the BBC’s Faisal Islam … Continue reading

Posted in Economics, IR35, National Insurance Contributions (NICs), Tax | Tagged , , , | Leave a comment

Sunak’s spring statement 2022 – initial details

Firstly, with inflation up again at 6.2% from 5.5%, the growth forecasts are fairly conservative at the moment and “we don’t really know how the situation in Ukraine will affect all of this” runs like a subtext to all of … Continue reading

Posted in Economics, Freelance working, Inflation, Low pay, National Insurance Contributions (NICs), Productivity, Tax | Tagged , , | Leave a comment

Understanding National Insurance Contributions (NICs) for the self-employed

Employees generally pay higher NICs than the self-employed unless they are very low paid. This is because Class 2 NICs are currently charged at a flat rate of £3.05 per week (2021-2 figures) If you are self-employed, you pay two … Continue reading

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