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IRC presents position on the introduction of an Online Sales Tax (OST)

19 May 2022

Our research found agreement that a minimum OST threshold could help to rebalance the burden of tax across the industry, generate revenue to reduce business rates for smaller businesses,... Read more…

UK government leads global transport transformation as it takes over ITF presidency in Germany

19 May 2022

In a ceremony held in Leipzig, Germany, the largest gathering of transport ministers in the world will see current president, Morocco, hand over the reins to UK Transport Secretary Grant... Read more…

National Living Wage Review published

19 May 2022

The Low Pay Commission has now published its review of the National Living Wage from 2015-2020.
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Local Bike Shop Day 2022 celebrated by record number of retailers, orgs and shoppers!

12 May 2022

Local Bike Shop Day 2022 was a great success across the UK, with online platforms thriving as well as a surge in the physical footfall seen in-stores!
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Latest #BikeIsBest campaign launched: We Can, You Can

12 May 2022

We Can, You Can is a celebration of the many faces of cycling. The way we move is changing. And the people leading the change are like me and you. We can, you can.
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How the Queen’s Speech affects independent shops

10 May 2022

The speech sets out the government’s agenda for the upcoming Parliament, outlining proposed policies and legislation. An overview of the main announcements relevant to independent shops is... Read more…

How are bike shops across the nation celebrating Local Bike Shop Day 2022?

26 Apr 2022

The annual celebration of bike shops across the nation is fast approaching! Be sure to pop down to your local bike shop this Saturday to get a taste of the passion, knowledge and personalised... Read more…

Spend with Cyclescheme on Local Bike Shop Day and win a £250 voucher!

21 Apr 2022

On Local Bike Shop Day 4 lucky customers that purchase a bike through Cyclescheme will be awarded a £250 cycling voucher for the store they collect the bike from! In addition to offering a... Read more…

1 day to go! Attending the Cycle Show? Learn technical tips with Cytech experts, save £50 off Theory one & win!

21 Apr 2022

Cytech are attending the Cycle Show and will be demonstrating key practices in bike maintenance that are useful for both the trade and public. Alongside the show we're offering... Read more…

Scottish businesses: Complete the Government Covid-19 response survey and attend workshops

21 Apr 2022

The Scottish Government retail division are looking for input with regards to the recent adaptations in response to the Covid-19 pandemic.
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National Insurance to increase through a health and social care levy

Posted on in Business News, Cycles News, Creative News, Outdoor News, Political News

The ParliamentPrime Minister has announced a new tax in the form of a Health and Social Care Levy.

From 1st April 2022, employer NICs will increase by 1.25 percentage points. Employee NICs will also increase by 1.25 percentage points, including for workers above state pension age.

It was also announced that self-employed Class 4 NICs will also increase - paid on annual profits beyond £9,569 and company dividend payments will rise from 7.5% to 8.75%.

The tax rise will raise £12bn, ringfenced to fund investment in health and social care. The investment will be spent on the following:

  • Tackling NHS Covid backlogs and cut waiting times with new £36 billion investment for health and social care
  • Responsible, fair, and necessary action taken to provide biggest catch-up programme in the history of the NHS and reform the adult social care system
  • NHS capacity to increase to 110% of planned activity levels by 2023/24, offering more appointments, treatments, and operations
  • Social care reform plan will end catastrophic costs for people across the country, and include extra investment in care sector to improve training and support
  • Funded by a new Health and Social Care Levy on working adults and an equivalent rise in the rates of dividend tax to make sure everyone pays their fair share
More information about the investment can be found here.


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