Expert Advice on Starting a New Business

Starting a new business in the UK is an exciting journey, but it also comes with financial, tax, and accounting responsibilities that must be managed effectively. Understanding your obligations from the outset will help you avoid unnecessary costs, ensure compliance, and set your business up for success. Choosing the Right Business Structure One of your […]

Managing HMRC Reporting Deadlines

Reporting the various employee data sets required by HMRC at the end of the tax year is a significant task for all employers. Ensuring your data is accurate and submitted on time can be challenging, and missing deadlines or submitting incorrect information could result in penalties. Key Reporting Deadlines for Employers Here are the important […]

Changes to National Insurance Contributions Effective 6 April 2025

The government has announced significant changes to National Insurance Contributions (NICs) that will impact employers from April 2025. These changes are part of the government’s most recent budget announcements and will impact employers across various sectors. Key Changes to Employer NICs Increase in Employer NIC Rate: The rate at which employers contribute to NICs will […]

Salary vs Dividends: Optimising Profit Extraction for 2025/26

For limited company directors, the strategy of balancing salary and dividends remains crucial for tax-efficient profit extraction. Recent changes announced in the Autumn Budget, particularly regarding employers’ national insurance rates and employment allowance, have added new considerations to this decision-making process. Understanding Salary Benefits and Drawbacks Advantages of Salary Payments A salary provides a straightforward […]

Christmas Hustle: Getting ahead of the deadline

Recent data from HM Revenue and Customs (HMRC) reveals an interesting trend in tax filing behaviour: 4,409 individuals completed their 2023-2024 tax returns on Christmas Day itself, well ahead of the January 31st deadline. The broader holiday period saw an impressive total of 40,072 taxpayers submitting their returns, demonstrating that financial responsibilities remain a priority […]

Understanding the New UK Company Size Thresholds for 2025/26

Significant changes are coming to UK company reporting requirements following the publication of The Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024. These changes, effective for financial years beginning on or after 6 April 2025, bring important updates to company size thresholds and reporting obligations. Key Changes to Size Thresholds The new regulations […]

Guidance on PAYE Reporting for Early Christmas Payments

Since 2019, there has been a permanent easement for reporting PAYE information in real time. This is where employees receive their pay earlier than usual at Christmas.  Reporting the Contractual Pay Date Where an employer closes on the usual (contractual) payday, such as at Christmas or on bank holidays, HMRC advises to report the contractual […]

NRB Christmas Payroll Schedule

We would like to inform all our valued clients that the payroll office will be closed for the festive period. We close on Monday, 23rd December 2024, and will reopen on Thursday, 2nd January 2025. During this time, our team will not be available to process payroll or handle any queries. Please take note of […]

Key Changes to Employers’ National Insurance

Chancellor Rachel Reeves’ Autumn Budget has introduced several notable changes to Employers’ National Insurance (NI) rates and thresholds, which will impact payroll costs for many UK businesses. Key Changes to Employers’ NI Effective from 1 April 2025, the Employers’ National Insurance rate will increase from 13.8% to 15%. Alongside this, the threshold at which employers […]

Payrolling of Benefits in Kind – Mandatory from 6 April 2026

Are you aware that from 6 April 2026, employee Benefits in Kind (BIK) will have to go through your payroll? What does it mean for you? The formal payrolling of benefits allows employers to subject the taxable value of the BIK to tax via the payroll during the tax year. This can include benefits such […]