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.
Contractor News Updates
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The Employment Allowance reduces the National Insurance costs for most employers, including contractor limited companies. However, this is all set to change from April 2016 when many contractors will not longer be eligible to claim it.
Thousands of contractors face enormous tax bills after a Tribunal ruled that HMRC could retrospectively tax an Isle of Man based tax avoidance scheme, despite its structure being legal at the time of operation.
The Government has responded to a petition against the forthcoming dividend tax hike. Here we explain why its response is factually wrong in so many ways.
As a result of announcements made during the last Budget, contractors will have to potentially negotiate four pieces of new tax legislation. Here we set out the main aims of each tax proposal, stripped of as much jargon as possible.
Limited company contractors will already be aware that dividends are set to be taxed more heavily from April 2016, however details of the proposed tax hike were ambiguous when first announced during the summer Budget. It now appears that the tax hit may be worse than many first thought.
New Government rules will require recruitment agencies to provide more information than ever to HMRC about the contractors on their books, including how much they’re paid. We asked an expert what this means in practice, and if there is a link between the new rules and IR35.
HMRC has offered users of ‘contractor loan schemes’ a chance to settle their outstanding tax liabilities on ‘favourable’ terms. The average contractor is thought to have avoided £11,000 for each year they took part.