Class 2 NICs – The hidden issue affecting self-employed taxpayers
Posted on June 3, 2025 Posted in - BlogRecent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers.
Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers.
Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025.
Many businesses routinely offer financial support to their directors or employees in the form of loans.
There are always going to be bad actors looking to scam reputable businesses out of money and data.
With less than a year to go before Making Tax Digital for Income Tax (MTD for IT) becomes mandatory for sole traders and landlords earning over £50,000, it is important to start preparing.