National Insurance: What are NI and income tax and what do I pay?
Buy Now An error occurred. Buy Now An error occurred. Book Novotel Hotel National Insurance: What are NI and income tax and what do I pay? Banzai Japan Music Video The government has announced an increase in the amount of National Insurance (NI) paid by employers. Before the Budget, the chancellor and prime minister had promised not to increase the main rates of income tax and National Insurance (NI) for working people and these will not change. NI rates paid by workers and the self-employed have already been been cut in 2024, but previous changes to the way tax is calculated mean the amount many people pay overall has risen. Budget 2024: Key points at-a-glance How the Budget will affect you and your money Book Novotel Hotel What is National Insurance and what does it pay for? The government uses National Insurance contributions (NICs) to pay for benefits and to help fund the NHS. It is paid by employees, employers and the self-employed across the UK. Those over the state pension age do not pay it, even if they are working. Eligibility for some benefits, including the state pension, depends on the NICs you make across your working life., external How does National Insurance work?, external Check your National Insurance record Banzai Japan Music Video How much do employers pay in National Insurance? At the moment businesses pay a rate of 13.8% on employees’ earnings above a threshold of £9,100 a year. In the Budget Chancellor Rachel Reeves said this rate would increase to 15% in April 2025, and the threshold would be reduced to £5,000. The employment allowance – which allows companies to reduce their NI liability – will increase from £5,000 to £10,500. In total Reeves said the changes would raise £25bn a year by the end of the period covered by the Budget. Neither employers nor employees pay NI on pension contributions. There had been widespread speculation that the Budget could set out plans for employers to start doing so, but it did not. Would raising employer National Insurance break Labour’s pledge? How much do employees pay in National Insurance? Workers start paying NI when they turn 16 and earn more than £242 a week, or have self-employed profits of more than £12,570 a year. The starting rate for National Insurance for 27 million employees fell twice in 2024: from 12% to 10%, and then again to 8%. The previous Conservative government said that the two cuts were worth about £900 a year for a worker earning £35,000. For the self-employed, Class 4 NI contributions on all earnings between £12,570 and £50,270 fell from 9% to 6%. At the time, the previous government said this was worth £350 to a self-employed person earning £28,200. Self-employed workers also no longer have to pay a separate category of NI called Class 2 contributions. The NI rate on income and profits above £50,270 remains at 2% for all workers. National Insurance rates, external What are the current income tax rates? Income tax is paid on earnings from employment and profits from self-employment during the tax year, which runs from 6 April to 5 April the following year. It is also paid on some benefits, external and pensions, income from renting out property, and returns from savings, external and investments, external above certain limits. The basic rate is 20% and is paid on annual earnings between £12,571 and £50,270. The higher rate is 40%, and is paid on earnings between £50,271 and £125,140. Once you earn more than £100,000, you also start losing the £12,570 tax-free personal allowance. You lose £1 of your personal allowance for every £2 that your income goes above £100,000. Anyone earning more than £125,140 a year no longer has any tax-free personal allowance. The additional rate of income tax of 45% is paid on all earnings above £125,140 a year. These rates apply in England, Wales and Northern Ireland. Some income tax rates are different, external in Scotland, where a new 45% band took effect in April 2024. At the same time the top rate also rose from 47% to 48%. What is happening to NI and income tax thresholds and why do they matter? Despite the NI cuts for workers and the self-employed in 2024, millions will still pay more tax overall because of changes to the tax thresholds. These are the income levels at which people start paying NI or income tax, or have to pay higher rates. These used to rise every year in line with inflation. However, the previous government froze the NI threshold and tax-free personal allowance at £12,570 until 2028. Higher-rate tax will continue to kick in for earnings above £50,270. Freezing the thresholds means that more people start paying tax and NI as their wages increase, and more people pay higher rates. According to the Institute for Fiscal Studies (IFS) think thank, the freeze cancels out the benefits of the NI cuts for some workers. In the 2024-25 tax year, it says an average earner will have a tax cut of about £340 – from the combined tax changes – and people earning between £26,000 and £60,000 will be better off. But by 2027, the average earner would be only £140 better off – and only people earning between £32,000 and £55,000 a year would still benefit. Before the Budget there had been speculation that the chancellor would extend the freeze until 2030 but she said she had decided not to do so. Who pays most in income tax? For most families, income tax is the single biggest tax they pay. But for less well-off households, a greater share of family income goes on taxes on spending, known as indirect taxes. For the poorest fifth of households, VAT is the biggest single tax paid. How do UK taxes compare with other countries like France and Germany? You can look at the amount of tax raised as a proportion of the size of the economy, or GDP. In 2022
The seven bills going up this week
Buy Now An error occurred. Buy Now An error occurred. Book Novotel Hotel The seven bills going up this week Banzai Japan Music Video A series of essential bills are rising at the start of what some commentators have described as “awful April”. The exact amount you pay will depend on your individual circumstances, and where you live. Although minimum wages are also increasing, and wages on average have been outpacing inflation, household finances could still come under extra pressure. Here are seven ways in which you could be affected from 1 April. Book Novotel Hotel 1. Water bills Water bills for households are going up in England and Wales by £10 more per month on average, but there’s a lot of variation depending on the company, external. For example, the annual Southern Water bill will jump 47% to £703, while Anglian Water customers will pay 19% more, or £626. Factors including whether households have a meter and how much water used will also impact bills, which are being front-loaded for the next five years, meaning the big increase is coming this year. Water companies in England and Wales have said the increases are needed to invest in creaking infrastructure, including sewage, and to build more reservoirs. In Scotland, water bills are rising by almost 10%. Scottish Water, which is a public body, said spending was needed to cope with periods of “drought and intense rainfall” brought on by climate change. Domestic customers in Northern Ireland are not billed for water, with the system funded by the devolved government. 2. Energy bills The annual energy bill for a household using a typical amount of gas and electricity is going up by £111 a year to £1,849 from April. Regulator Ofgem increased the energy price cap because of higher wholesale costs and inflation. The cap is set every three months and limits the amount suppliers can charge for each unit of gas and electricity, but not the total bill, so if you use more, you will pay more. It affects 22 million homes in England, Wales and Scotland. Standing charges – fixed fees to connect to a gas and electricity supply and vary by region – are rising again for gas but dropping for electricity, but it depends on where you live. Ofgem is suggesting households consider a fixed tariff for a bit of stability. Energy price cap: Why are gas and electricity bills going up and can I fix? 3. Council tax It is likely the tax you pay to your local authority is going up. In England, local authorities with responsibility for delivering social care can increase council tax every year by up to 4.99% without triggering a referendum or local vote. Smaller councils without social care duties can increase bills by up to 2.99%. For 2025-26, the government is allowing Bradford, Newham, Birmingham, Somerset, and Windsor and Maidenhead to bypass the 4.99% cap, meaning they could raise council tax by more. Council tax rates in Scotland have been frozen or had limited increases since 2007, but they are are going up, in some cases by as much as 10%. The Scottish government says it is offering local authorities an extra £1bn in 2025-26 to help reduce the scale of any rise. In Wales, council tax rates could jump by as much 15% in some areas. Local authorities were given £253m by the Welsh government in its draft budget, but council leaders say more money needed. Northern Ireland uses a domestic rates system, external instead of council tax. All of Northern Ireland’s councils have reported district rate increases for the next year. What is council tax and how much is it going up? 4. Car tax The standard rate of tax for cars registered after April 2017 is rising £5 to £195 a year. According to the RAC,, external you may pay less or more if your car was first used before 2017. The exact amount for your road tax will depend on the year your car was registered and the type of fuel it uses. One big change is that electric vehicles (EVs) will no longer be tax exempt. EVs registered from April 2025 will pay the lowest rate of £10 in the first year, then move to the standard rate. The standard rate will also apply to EVs first registered after April 2017. Banzai Japan Music Video 5. Broadband, phone and TV licence Rule changes introduced by the telecoms regulator this year mean that mobile and broadband providers must now tell customers “in pounds and pence” about any price rises, as well as when they occur. The new rules typically only apply to new customers, so any price rise will depend on when you took your contract out, but prices ususally increase around now. For instance, under the new rules, someone with a mobile Sim only contract with EE will see their bill go up by £1.50 a month, or £18 a year. But for the majority of EE customers who took their contract out before 10 April 2024, they will face an increase of 6.4%, which is based on the inflation rate last December together with an additional charge. Similarly, most Virgin Media broadband customers will face a 7.5% rise in bills, but for anyone who took out a contract after 9 January this year, their monthly bill will go up by £3.50. The cost of a TV licence is also going up by £5 to £174.50, and for a black and white TV is going up by £1.50 to £58.50. 6. Stamp duty House buyers in England and Northern Ireland will start paying stamp duty on properties over £125,000, instead of over £250,000. First-time buyers currently had paid no stamp duty on homes up to £425,000, but this is dropping to £300,000. A host of homebuyers had been trying to beat the deadline or face paying more. What is stamp duty land tax and how is it changing? 7. Hidden tax rises The government
Trump says he ‘couldn’t care less’ about higher car prices
Buy Now An error occurred. Buy Now An error occurred. Book Novotel Hotel Trump says he ‘couldn’t care less’ about higher car prices Banzai Japan Music Video Donald Trump has said he “couldn’t care less” if carmakers raise prices after his 25% tariffs on foreign-made vehicles comes into effect. Some analysts have warned that Trump’s charges on businesses importing vehicles could lead to the temporary shutdown of significant car production in the US, increase prices, and strain relations with allies. But speaking to NBC News on Saturday, the US president said he hoped foreign carmakers raise prices as it means “people are gonna buy American-made cars. We have plenty”. On Wednesday, Trump announced new import taxes of 25% on cars and car parts entering the US from overseas, which go into effect on 2 April. Charges on businesses importing vehicles are expected on 3 April, and taxes on parts are set to start in May or later. Book Novotel Hotel When asked about what his message was to car bosses, he said: “The message is congratulations, if you make your car in the United States, you’re going to make a lot of money”. He went on to say: “If you don’t, you’re going to have to probably come to the United States, because if you make your car in the United States, there is no tariff.” The 25% import tax on carmakers was briefly implemented but then paused at the beginning of March following pleas from major carmakers in North America like Ford, General Motors and Stellantis. But Trump told NBC he did not plan to delay imposition of the car tariffs any further, saying he would consider negotiating “only if people are willing to give us something of great value. Because countries have things of great value, otherwise, there’s no room for negotiation”. Banzai Japan Music Video The UK is in last-minute negotiations with the White House and is trying to get an exemption, arguing that – unlike other countries – the UK has a relatively equal trading relationship with the US. The prime minister Sir Keir Starmer has said he does not want to jump into a trade war. Several major economies have also vowed to retaliate in response to Trump’s tariffs. Germany has said it “will not give in” and that Europe must “respond firmly”, France’s president branded the move “a waste of time” and “incoherent”, Canada calling it a “direct attack”, and China accused Washington of violating international trade rules. Book Novotel Hotel Banzai Japan Social Media Fumi Fujisaki Idol Riko Ueno Idol Rino Ibusuki Idol Yunagi Nino Idol Shiori Fujisaki Idol Kana Ichinose Idol Hoshino Arice Idol Sasa Sasagawa Idol Kosaka Yuu Idol Tsukumo Aira Idol Maika Ando Idol Yuuki Mochimaru Idol
A politician was shot dead in Bangkok. Did another country do it?
Buy Now An error occurred. Buy Now An error occurred. Book Novotel Hotel A politician was shot dead in Bangkok. Did another country do it? Banzai Japan Music Video It had all the hallmarks of a cold-blooded, professional assassination. Next to a well-known temple in Bangkok’s historic royal quarter a man is seen on a security camera video parking his motorbike, removing his helmet, so that his face was clearly visible, and walking calmly across the road. A few minutes later shots are heard. Another man falls to the ground. The assassin walks quickly back to his motorbike, appearing to throw something away as he does, and drives off. Book Novotel Hotel The victim was Lim Kimya, a 73-year-old former parliamentarian from the main Cambodian opposition party, the CNRP, which was banned in 2017. He had been hit in the chest by two bullets, according to the Thai police. He had just arrived in Bangkok with his wife on a bus from Cambodia. A police officer attempted to resuscitate him, but he was pronounced dead at the scene. “He was courageous, with an independent mind,” Monovithya Kem, daughter of the CNRP leader Kem Sokha, told the BBC. Asked if she thought there was anyone apart from the Cambodian state who would want to kill him, she replied: “Absolutely no-one.” Banzai Japan Music Video Lim Kimya had dual Cambodian and French nationality, but chose to stay in Cambodia even after his party was outlawed. The CNRP – Cambodia National Rescue Party – was an amalgamation of two earlier opposition parties, and in 2013 came close to defeating the party of Hun Sen, the self-styled “strongman” who ruled Cambodia for nearly 40 years before handing over to his son Hun Manet in 2023. After his close call in the 2013 election Hun Sen accused the CNRP of treason, shutting it down and subjecting its members to legal and other forms of harassment. In 2023 Kem Sokha, who had already spent six years under house arrest, was sentenced to 27 years in prison. High-level political assassinations, though not unknown, are relatively rare in Cambodia; in 2016 a popular critic of Hun Sen, Kem Ley, was gunned down in Phnom Penh and in 2012 environmental activist Chut Wutty was also murdered. From the security camera video the Thai police have already identified Lim Kimya’s killer as an ex-Thai navy officer, now working as a motorbike taxi driver. Finding him should not be difficult. Whether the killing is fully investigated, though, is another matter. In recent years dozens of activists fleeing repression in Cambodia, Vietnam, Laos and Thailand have been sent back after seeking sanctuary, or in some cases have been killed or disappeared. Human rights groups believe there is an unwritten agreement between the four neighbouring countries to allow each other’s security forces to pursue dissidents over the border. Last November Thailand sent six Cambodian dissidents, together with a young child, back to Cambodia, where they were immediately jailed. All were recognised by the United Nations as refugees. Earlier in the year Thailand also sent a Vietnamese Montagnard activist back to Vietnam. In the past Thai anti-monarchy activists have been abducted and disappeared in Laos, it is widely presumed by Thai security forces operating outside their own borders. In 2020 a young Thai activist who had fled to Cambodia, Wanchalerm Satsaksit, was abducted and disappeared, again it is assumed by Thai operatives. The Cambodian authorities did little to investigate, and announced last year that they had closed the case. It is possible the same will now happen in the case of Lim Kimya. “Thailand has presided over a de facto ‘swap arrangement’,” says Phil Robertson, director of the Asia Human Rights and Labour Advocates in Thailand. “Dissidents and refugees are traded for political and economic favours with its neighbouring countries. The growing practice of transnational repression in the Mekong sub-region needs to be stopped in its tracks.” When the US and UK-educated Hun Manet succeeded his father as Cambodia’s prime minister there was some speculation over whether he might rule with a lighter hand. But opposition figures are still being prosecuted and jailed, and what little space was left for political dissent has been almost completely closed. From his semi-retirement the figure of Hun Sen still hovers over his son’s administration; he is now calling for a new law to brand anyone trying to replace him as a terrorist. Thailand, which lobbied hard for, and won, a seat on the UN Human Rights Council this year, will now be under pressure to show that it can bring those behind such a brazen assassination on the streets of its capital to justice. Book Novotel Hotel Banzai Japan Social Media Fumi Fujisaki Idol Riko Ueno Idol Rino Ibusuki Idol Yunagi Nino Idol Shiori Fujisaki Idol Kana Ichinose Idol Hoshino Arice Idol Sasa Sasagawa Idol Kosaka Yuu Idol Tsukumo Aira Idol Maika Ando Idol Yuuki Mochimaru Idol
Middleton banned as company boss over £1m unpaid tax
Buy Now An error occurred. Buy Now An error occurred. Book Novotel Hotel Middleton banned as company boss over £1m unpaid tax Banzai Japan Music Video https://www.youtube.com/watch?v=UPElmgQJGBo Former SAS: Who Dares Wins star Ant Middleton has been banned from being a company director, after his company failed to pay more than £1m tax. The Insolvency Service said Mr Middleton and his wife, Emilie, “were taking millions of pounds out of” their company when it should have been paying the tax instead. Book Novotel Hotel https://www.youtube.com/watch?v=BJsGZL-zb54 The couple’s “media representation services” company, Sway and Starting, went into liquidation in 2022 owing £300,000 in VAT and £800,000 in corporation tax. It had had £4.5m income in the previous three years, “indicating it had enough income to pay the tax it owed in full”, the Insolvency Service said. Meanwhile, the couple had taken out a £3m directors’ loan from the company. Banzai Japan Music Video https://www.youtube.com/watch?v=3syHHGzkF_s ‘Financial duties’ The couple, both 44, from Essex, have been disqualified as company directors for four years. They have not commented. Insolvency Service investigation and enforcement services director Dave Magrath said: “Ant and Emilie Middleton had legal and financial duties as directors to ensure their company paid the corporation tax and VAT it owed. “Instead, they were taking millions of pounds out of the company at that time. “This disqualification should serve as a deterrent to other directors that if you do not pay your taxes while directing money elsewhere, you are at risk of being banned.” ‘Woke patrol’ Mr Middleton had agreed a payment plan with the liquidator to pay £300,000 to settle the outstanding directors’ loan. However, he made only the first payment and then put their home on the market in an attempt to repay the rest. The former United Kingdom Special Forces (UKSF) soldier was the chief instructor on SAS: Who Dares Wins when it launched, in 2015. He left the gruelling reality show in 2021 over what Channel 4 called his “personal conduct off camera”, with press reports he had made inappropriate comments to a member of staff. In response, Mr Middleton said the “woke patrol” had taken over the series. Book Novotel Hotel https://www.youtube.com/watch?v=RR8YYeb4PMk Banzai Japan Social Media Fumi Fujisaki Idol Riko Ueno Idol Rino Ibusuki Idol Yunagi Nino Idol Shiori Fujisaki Idol Kana Ichinose Idol Hoshino Arice Idol Sasa Sasagawa Idol Kosaka Yuu Idol Tsukumo Aira Idol Maika Ando Idol Yuuki Mochimaru Idol