Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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National Insurance Contributions

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Tackling rising employment costs

December 19, 2022Budget, Employment Tax, Income Tax, National Insurance Contributions, PAYELeave a commentadmin

The 9.7% uplift to the National Living Wage from April 2023 should be welcome news for lower-paid workers, but could present problems if their employer simply cannot afford the increased cost of employing them. The…

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Dividends vs remuneration: the corporation tax quandary

November 4, 2022Income Tax, IR35, National Insurance Contributions, PAYE, self-assessmentLeave a commentadmin

For owner-managed companies, bonuses, dividends and remuneration will become yet more complex in the new tax year. With the corporation tax increase and dividend rates now confirmed by the Government, the dividend vs remuneration decision…

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The rise of mini umbrella company fraud

October 3, 2022Employment Tax, Income Tax, National Insurance Contributions, PAYE, TaxLeave a commentadmin

The rise of mini umbrella company fraud continues to concern HRMC which has recently updated its guidance for businesses that either place or use temporary labour. Mini umbrella companies can be used to abuse the…

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Are you on top of Making Tax Digital’s latest developments?

July 6, 2022Making Tax Digital, MTD, National Insurance Contributions, self-assessment, Self-Employed, VATLeave a commentadmin

The widening scope of Making Tax Digital (MTD) is highlighting several issues, including the limited availability of the MTD for income tax pilot scheme, and low awareness of the recent expansion of MTD for VAT…

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NICs boost for the self-employed

April 16, 2022National Insurance Contributions, self-assessment, Self-EmployedLeave a commentadmin

Prior to the March Spring Statement, most self-employed individuals were facing increased national insurance contribution (NIC) bills this year. However, those with profits up to and just over £28,000 will now see a fall in…

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Freeports up and running

January 5, 2022Capital Gains Tax, National Insurance Contributions, Stamp Duty, TaxLeave a commentadmin

The first eight Freeport designated tax sites have now opened in Teesside, Humber and Thames. Freeports and their tax sites benefit from various incentives and tax breaks, but it remains uncertain whether they will provide…

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Apprenticeship levy transfers simplified in England

November 5, 2021Employment Tax, National Insurance ContributionsLeave a commentadmin

Larger employers can transfer up to 25% of their annual apprenticeship levy pot to support other, smaller, employers to take on apprentices in England. While there is nothing new about this, what is new is…

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Changes afoot for Basis period tax rules

August 11, 2021Income Tax, MTD, National Insurance Contributions, Pensions, self-assessment, Self-EmployedLeave a commentadmin

Although it looks like the next Budget will be pushed back to spring 2022, several tax changes are already on the cards, some more certain than others. The government’s fast progress with reform of the…

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Focus on national insurance contributions

July 8, 2021DOTAS, Employment Tax, National Insurance Contributions, TaxLeave a commentadmin

New government proposals target the promoters of national insurance contribution (NIC) avoidance schemes, while plans are in place to introduce a zero rate of employer contributions in Freeports. Both measures are included in the National…

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Recent Posts

  • Making Tax Digital delayed once more
  • Associated company rules changing 1 April
  • High Income Child Benefit Charge: penalties and defaults
  • Cohabitation law reforms rejected
  • Tackling rising employment costs

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    This website is designed as a marketing tool for the advertisement of the services of Femi O. Ogunshakin, a director of Loftus Stowe Ltd, a company registered in England, a company (no. 7552548). Registered office: Bold Business Centre, Bold Lane, St Helens, Merseyside, WA9 4TX. VAT no. 113 8203 52. Femi Ogunshakin is a solicitor and is regulated by the Solicitors Regulation Authority (SRA) who may consider Loftus Stowe Ltd to be a 'Separate Business' for the purposes of Chapters 11 and 12 of the Solicitors Code of Conduct 2011. Neither Fęmi Ogunshakin (SRA no. 197062) nor Loftus Stowe Ltd provide legal advice or make representations that its services are those provided by bodies recognised by the SRA to provide legal services under the provisions of the Solicitors Act 1974, the Legal Services Act 2007 and the Solicitors Code of Conduct 2011. Loftus Stowe Ltd is a consultant practice of Nexa Law Limited, a company authorised and regulated by the SRA under licence number 633024. Privacy Policy
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