Key Updates for Businesses, Employers and Workers from April 2022

(1) Increase in national minimum wage from 1/4/2022 to £9.50 per hour (aged 22 and over).

 

(2) New temporary Health and Social Care levy to be introduced from 6/4/2022 increasing National Insurance Contributions for employees and the Self-Employed by 1.25%.

 

(3) Making Tax Digital for VAT becomes mandatory for ALL vat registered businesses from 1/4/2022.

 

(4) The reduced rate VAT of 12.5% for hospitality and attractions increases back to the standard 20% rate from 1/4/2022.

 

(5) The current 2021/22 tax year finishes on 5/4/2022 which means that Employers will need to complete their PAYE year end and start the new 2022/23 year.

 

(6) The 2021/22 Self-Assessment year will close on 5/4/2022 and anyone who is self-employed or required to file a self-assessment tax return will be able to from 6/4/2022.