Before last week’s Budget we already knew that corporation tax would increase in 2023 and that there will be a 1.25% rise in National Insurance Contributions (NICs) from April 2022 paid by employers, employees, self-employed and for those with share dividend income. Personal allowances are frozen until 2026 and we are told these rises are to are to pay for Covid-19 measures and reform of the social care system. The tax burden as a percentage of UK Gross Domestic Product (GDP) is now at its highest level since the 1950’s according to the Office for Budget Responsibility.

Digital reporting and digital tax accounts is a reality and by April 2022 all VAT registered businesses will be online.

From 6th April 2019 new legislation around providing payslips comes into effect, under which:

• All employers will be required to provide payslips to all ‘workers’, and

• Show hours worked on payslips where the pay varies by the number of hours worked