Paying your taxes a challenge?

With the deadline for self-assessment having passed on 31st January, HMRC would assume that all tax returns are submitted and tax bills settled. Failure to do so would lead to additional charges and penalties. However, if you are stuck with trying to pay your liabilities there are a few options.…

Reduction in Dividend Allowance: Will it affect you?

In the government’s second finance bill that was confirmed last month, dividend allowance was cut by £3,000 from its current level at £5,000. As Chancellor continues to target the contracting industry this could leave contractors with a dividend tax bill of £1,143. Phillip Hammond first spoke about the dividend cut…

Autumn Statement: Top 5 points for contractors

1. IR35 and the Private Sector It’s a lot to digest but the point above refers to the IR35 reforms that were rolled out to the public sector at the start of the tax year 2017/18 and speculation that this would also be rolled out to the private sector affecting…

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