Philip Hammond’s first Budget is due to be delivered on March 8th 2017 – it will be the last ‘Spring Budget’. Here, we remind ourselves of the pre-announced tax changes which will start from April this year.
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As one eventful year comes to a close, we look forward to 2017 and examine how forthcoming legislative changes and economic events are likely to affect contractors.
From April 2017, many small limited companies which have low annual costs will face a higher VAT liability if they use the Flat Rate (FRS) scheme. Here, we look at how the changes are likely to affect contractors.
If proof were needed that successive governments seem hellbent on removing any of the final benefits associated with limited company contracting, then this year’s Autumn Statement may provide just just that.
Businesses are not impressed with HMRC’s latest proposals to shift the responsibility of IR35 enforcement onto employers in the public sector.
Although the new dividend tax regime started on 6th April 2016, it will be some time before company owners feel the effects on their take-home pay. Here, a leading accountant outlines the key dates contractors should prepare for to ensure they are not caught out by the tax hike.
On 30th June 2016, the Annual Return, which provides a snapshot of a limited company’s personnel and structure at a given moment in time, will be replaced by a Confirmation Statement. Here we look at what this requirement means for company owners, and how communications with Companies House will change as a result.
With the new tax year rapidly approaching, a specialist accountancy firm has urged limited company contractors to carefully consider their tax planning in readiness for the new dividend tax rules which come into effect on 6th April 2016.
With the Government keener than ever to outlaw ‘aggressive tax planning’ vehicles – specifically those aimed at freelance professionals, HMRC has published a new document – “ten things about contractor loan schemes.”
With the tax differential between limited company owners and traditional workers set to be reduced after April’s dividend tax hike, why don’t policy makers take into account the extra costs contractors have to bear compared to employees?