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A simple NIC change has triggered major tax confusion
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A simple NIC change has triggered major tax confusion
The 2024/25 tax year brought a key change for self-employed taxpayers: those earning more than £6,725 are no longer required to pay Class 2 National Insurance Contributions (NICs). Rather than simplifying matters, the change has led to errors in HM Revenue & Customs’ (HMRC’s) systems and a growing number of incorrect tax demands. What the reform was meant to achieve Under the new rules, qualifying self-employed individuals automatically receive …
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