by VelocityAS | Jul 1, 2022 | Employment, National Insurance, Tax
The changes in National Insurance contribution (NICs) levels are coming into force at the beginning of July. It will mean that 30m people should save around £330 each, according to the Government. The amount you can earn before you start paying NICs will increase from... 
by VelocityAS | Apr 1, 2022 | COVID-19, Employment, Finance, income, Self Assessment, Tax
Married Couple’s Allowance can be transferred between spouses and civil partners, and while 2m couples have claimed this since it was introduced back in 2015, there are many more people who are entitled to claim it. Go back four years The allowance, which is worth up... 
by VelocityAS | Mar 25, 2022 | Employment, income, National Insurance, PAYE, Spring Statement, Tax, Tax Relief
The Chancellor, Rishi Sunak’s, Spring Statement provided much anticipation especially against the rising cost of living and the shock of the Ukraine War. In the House of Commons, The Chancellor shared that the invasion of Ukraine by Russia was causing a lot of... 
by VelocityAS | Mar 1, 2022 | Company Car, Employment, Finance, income, National Insurance, Tax, VAT
The Government is set to increase National Insurance Contributions (NICs) by 1.25% from April to fund the Health and Social Care Levy, and while this may be a laudable aim, it is going to hit all of us in the pocket. Costly increase when finances are being squeezed... 
by VelocityAS | Feb 14, 2022 | Accounting, Business, Employment, Finance
Velocity Accounting Solutions have added a new member to their team with the appointment of Georgia Bingham as Business Co-ordinator. Growing from a team of one to a team of four over the past year, the Sheffield based bookkeeping and accountancy firm identified the... 
by VelocityAS | Jan 4, 2022 | COVID-19, Employment, Statutory Sick Pay
To help employers affected by the spread of the Omicron variant of COVID-19, the Statutory Sick Pay (SSP) rebate scheme for small employers is being reintroduced. In addition, the period for which an employee can self-certify a sickness absence is increased...