Tax efficiency Articles

Early Bird Self Assessment Discount Umbrella Accountants

Early bird offer - Discounted price of £150 + VAT – Ends 31st August

Tired of finishing that self-assessment with just a few late January days to spare? This could be the year when you finally make a change.

It’s a feeling that many contractors will be all too familiar with. One minute you’re toasting the end of another successful year, the next you’re staring down at a mountain of work you didn’t get done before the Christmas break and, all the while, precious seconds are ticking down on the self-assessment deadline.

Sure, you don’t really want to think about it while the World Cup is on and the sun is out, but completing your tax return paperwork early does have a lot of benefits.

Here are four that we think are most important.

Dividend allowance cut confirmed: How much it will cost you

The government’s second Finance Bill has been confirmed, meaning that the tax free dividend allowance will be cut from £5,000 to £2,000 from April 2018.

The cut could cost contractors up to £1,143 a year as the Chancellor continues with his raid on self-employed finances.

The dividend allowance cut was first mentioned in the Chancellor’s Spring Budget speech. Phillip Hammond said: “People should have choices about how they work, but those choices should not be driven primarily by differences in tax treatment.”