With 6 April’s employer National Insurance contributions (NICs) increase fast approaching, finance experts and accountants are in a crucial position to guide businesses through the financial and operational implications.

The rise in employer NICs and an increase in the national minimum and living wage will add pressure to payroll budgets across sectors, particularly for SMEs operating on tight margins.

The stakes are high in an economic climate where 88% of small business owners worry about making accounting errors, and 28% express significant concerns over payroll and tax compliance.