Several changes to tax and National Insurance Contributions (NICs) were announced in the autumn 2024 budget, which are set to take effect from 6 April 2025, including:
- Employer’s NICs on an employee’s earnings will increase by 1.2% to 15%.
- The threshold at which employers start paying NICs will reduce from £9,500 to £5,000.
- National Living Wage adjustments: The annual revision of minimum wage rates will affect staffing costs for many businesses.
Find updates and important information about these and other changes in the February 2025 issue of the Employer Bulletin: February 2025 issue of the Employer Bulletin - GOV.UK
Find practical resources and support at the following link: Cost of Doing Business | Business Wales
For personalised advice regarding your specific business challenges, arrange a meeting with a Business Wales advisor through the Business Wales helpline on 03000 6 03000. Rydym yn croesawu galwadau'n Gymraeg / we welcome calls in Welsh, or complete the Get Support section at the following link: Business Wales service | Business Wales