Class 4 National Insurance is for self-employed people with annual profits over £12,570. But to really understand Class 4 National Insurance, it’s worth learning about the other National Insurance classes, and who pays them. What is Class 2 & 4 National Insurance? If you’re self-employed, you must pay Class 4 National Insurance based on earnings…
Self-employed people must pay National Insurance contributions. But the good news is that the rate you’ll pay is lower than the rate employees pay. This is your essential guide to National Insurance for the self-employed. We’ll explore how much you have to pay, how to pay it, and what happens if you don’t pay. How…
If you’re new to the self-employed world, you might have some questions about the sort of National Insurance you need to pay. This is your essential guide to your National Insurance obligations as a self-employed freelancer or contractor. We’ll take a look at the difference between Class 2 and Class 4 National Insurance, which should…
If you run any sort of business – whether you’re a sole-trading freelancer or the head of a multinational – professional indemnity insurance can offer vital protection when you need it most. Many people struggle with insurance. There are so many insurance products out there, and it might not be immediately obvious which ones are…
Professional indemnity insurance could save your business, and your reputation. You might be wondering whether you need professional indemnity insurance, or whether you can afford it. But perhaps a better question to ask yourself is – can you afford not to get professional indemnity insurance? Do I Need Professional Indemnity Insurance? If you’re a freelancer…
Applied Systems is a leading insurance technology provider and their exit will have significant impact in the UK market. They recently announced their decision to withdraw its broker management system, Applied Epic, from the UK market. This move reflects broader challenges in the UK insurance sector. Pressiues have been increasing in the market which risks…
According to a 2019 report by the Federation of Small Businesses, small businesses fall victim to around 10,000 cyber-attacks every day. Cybercrime is estimated to cost small businesses a staggering £4.5 billion each year, with the average cost of a single attack at £1,300. The latest 2020 Cyber Breach Survey from the government, reported that…
Travel Insurance Protect Your Trips with Comprehensive Cover for Business and Leisure Travel What is Travel Insurance? Travel doesn’t always go as planned. Travel Insurance protects you against unexpected medical expenses, trip cancellations, lost luggage, and other travel-related risks. Whether you’re travelling for business or leisure, having the right cover ensures peace of mind wherever…
Are insurance premiums subject to VAT? Do you have to pay VAT on your insurance? Short answer: You almost never have to pay VAT on insurance. But sometimes you do. Sort of. In this post we’ll explain the law concerning VAT and insurance, and explain when you do and do not have to pay VAT…
In this post we’ll explore some of the key trends that could define the insurance market from 2024. As well as some key opportunities for growth, we’ll also discuss some of the major challenges that the next year could pose to insurers and insurance brokers. Further Advancements in AI Artificial intelligence (AI) has given the…