March 2024 budget update part 2- NICs for the self-employed and the VAT threshold increase
Last week Jeremy Hunt announced changes to National Insurance Contributions for the self-employed – take a look at the infographic below to see the changes to both Class 2 and Class 4 contributions.
The VAT registration threshold has also increased, hopefully giving small businesses a helping hand to survive the current difficult economic climate. If you need advice regarding whether you need to register your business for VAT, get in touch, we’d be happy to help.
