What Is National Insurance and How Does It Work in the UK?
20 May 2026
National Insurance is one of those taxes that most people pay automatically: it’s a tax on earnings to fund benefits and State Pension. Try our
National Insurance is one of those taxes that most people pay automatically: it’s a tax on earnings to fund benefits and State Pension. Try our
Outside IR35, a limited company typically puts extra money in your pocket each year; inside IR35, an umbrella company is usually the smarter, simpler choice.
An umbrella company is a UK PAYE employer that pays contractors and freelancers on temporary assignments, usually arranged through a recruitment agency. Key Takeaways 1.
If you’ve received an unexpected bill from HMRC, it almost always traces back to one of a handful of triggers: savings interest crossing your allowance,
If your gross side hustle earnings exceed £1,000 in a tax year, you must register for Self Assessment with HMRC by 5 October following the
Income tax is charged in bands on income above your £12,570 personal allowance. Moving into a higher band only increases the rate on income above
HMRC usually gives you seven days’ notice before a VAT inspection. The most common trigger is a large or unexpected repayment claim, and inspectors can
Taxable profit is the figure HMRC uses to calculate your tax bill. It’s almost never the same as the profit showing in your accounts. Key
You can fill gaps in your NI record by making voluntary contributions: Class 3 costs £956.80 per year in 2026/27, and each year you buy
Tax returns can be hard work but sometime, especially in today’s business climate it’s finding the cash to pay the tax that can be the biggest problem.