20th February 2018 14:39 pm
The deadline for self-assessment passed on 31st January and therefore HMRC will assume that all tax returns have been submitted and tax bills settled. Businesses and individuals that have failed to do so could be liable for additional charges and penalties. However, if you are having difficulty paying your taxes…
16th January 2018 15:02 pm
It was confirmed last month in the government’s second finance bill that the dividend allowance will be cut from £5,000 to £2,000. This could result in contractors having to pay a dividend tax bill of up to £1,143. Phillip Hammond first spoke about the dividend cut in the Spring Budget…
23rd November 2017 14:56 pm
Top points for contractors to focus on from this year’s Autumn Statement; 1. IR35 and the Private Sector It’s a lot to digest but the first point refers to the IR35 reforms that were rolled out to the public sector at the start of the tax year 2017/18. There was…
10th December 2015 11:13 am
As you are all aware the much debated T&S legislation is now a reality, which means from April 2016 most of your contractors will not be able to claim expenses incurred towards travel and subsistence. This will mean traditional Umbrella Payroll will not be a viable option going forward for contractors…
29th October 2015 17:06 pm
The UK tax system is getting a facelift to stay in sync with the advancing technology that offers digital solutions for almost everything. The government aims at modernizing the tax system by replacing the current tax accounts with digital ones. The proposed model will be similar to an online bank…
