From April 2017, many small limited companies which have low annual costs will face a higher VAT liability if they use the Flat Rate scheme (FRS). Here, we look at how the changes are likely to affect contractors.
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:
Petition calls on Government to scrap IR35 public sector rules
An online petition has been launched, urging the Government to scrap the April 2017 IR35 changes for contractors working in the public sector.
Budget 2017 date set for March 8th. What can contractors expect?
Philip Hammond’s first Budget will 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.
Contracting in 2017 – 5 things you need to know
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.
Autumn Statement 2016 – more misery for 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.
Thumbs down to HMRC’s IR35 public sector plans
Businesses are not impressed with HMRC’s latest proposals to shift the responsibility of IR35 enforcement onto employers in the public sector.
Accountant urges contractors to put money aside for dividend tax hike
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.
Confirmation Statement to replace Annual Return from June 2016
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.
Contractors urged to plan in advance of dividend tax rise
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.
HMRC’s 10 reasons why you should not use contractor loan schemes
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.”
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