With the Corporation Tax hike only a few months away, if you have more than one limited company, you need to be aware of new ‘Associated Companies’ rules, which make things even more complicated.
Contractor News Updates
We typically publish site updates when important events take place (such as upcoming changes to legislation, Budget reports). You can also keep up-to-date with the latest contractor news updates by following us on:
Autumn Statement 2022 – dividend + CGT allowances cut, tax thresholds frozen until 2028
The Chancellor, Jeremy Hunt, announced a wide range of tax rises, mass tax allowance freezes and spending cuts in his Autumn Statement today.
April 2023 IR35 reform repeal cancelled – more pain for contractors
The Chancellor, Jeremy Hunt, has just announced that the April 2023 IR35 reform repeal – announced in Kwasi Kwarteng’s mini-Budget in September – will not be going ahead after all.
Chancellor slashes taxes in dramatic ‘mini Budget’
In today’s mini-Budget, Chancellor Kwasi Kwarteng announced some dramatic tax cuts – aimed at both businesses and individuals. Here we have highlighted the key points.
Off Payroll rules to be scrapped! ‘Old’ IR35 to return from April 2023
In his ‘mini Budget’, Chancellor Kwasi Kwarteng announced that the Off Payroll working rules will be abolished from April 2023.
Have you received an MSC legislation notice from HMRC? Key FAQs
A number of contractors have received letters from HMRC as a result of their accountants being investigated under the Managed Service Company legislation. What should you do if you receive a letter?
Report slams Off Payroll reforms, survey shows major IR35 impact
Just over a year since the introduction of the Off Payroll rules in the private sector, the Public Accounts Committee has released a damning report on the implementation. A new contractor survey backs up the findings.
MSC legislation – HMRC launches new campaign against contractors
The MSC legislation has made the headlines again in 2022 as several contractor accountancy firms – and their clients – are being investigated by HMRC.
Spring Statement 2022 – Employees’ NI threshold will rise to £12,570
The Chancellor announced a number of tax changes during the March Spring Statement – most notably a rise in the threshold before employees are liable to pay National Insurance Contributions.
Autumn Budget 2021 – tax rises confirmed to fund big spending
Aside from the price cut for a bottle of Prosecco, the 2021 Autumn Budget will be remembered mainly for confirming a wide range of future tax increases for both businesses and individuals, and unprecedented levels of public spending.
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