For many contractors, a new personal tax year starts on April 6th. There are some important things that you can do now to minimise the amount of tax you owe and to make the process of paying taxes simpler.
April 2018 Articles
marketing | 29 March 2018
/ / / /
marketing | 8 January 2018
/ / / / /For many contractors, the Christmas break finished as quickly as it started. A whirlwind few days of stressed-out travelling and mince pie gorging is all that your average contractor can expect before its back to work.
But the New Year period does offer some space for quiet reflection.
Many contractors will have set New Year’s Resolutions and many of these will have centred on money.
marketing | 12 March 2018
/ / / / /A cut in dividend allowance will cost some contractors more than £1,000 per year when it takes effect from April.
The allowance on dividends will be cut from £5,000 to £2,000 as the chancellor continues his raid on self-employed finances.
This means that individuals will not pay taxes on the first £2,000 of dividend income, regardless of what non-dividend income they have.
marketing | 11 December 2017
/ / /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.”
