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.
Contractor News Updates
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Some contractors who participated in tax avoidance schemes in the past may be forced into insolvency as HMRC uses tough new powers to demand the payment of disputed taxes upfront.
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.
Contractors are being urged to highlight the impact the removal of tax relief on subsistence and travel expenses claims would have on the contracting industry if HMRC proposals go ahead. An online survey has been created to collect responses.
The Government is consulting on proposals to ban tax relief on travel and subsistence expenses for contractors who are under the ‘supervision, direction or control of any person’. Here, we look at the history behind this planned legislation, and the areas of greatest concern to the contracting industry.
With the General Election just weeks away, we look at how the major parties’ policies have affected the contracting industry and ask you to take part in our election poll.
An industry group is urging contractors to make their voices heard over Government plans to restrict subsistence and travel expense claims for umbrella company employees.