In just a few weeks, Chancellor George Osborne will begin to phase in the new living wage. The Financial Times describes this as a “bold experiment” to force up the wages of low-paid workers, but what does this really mean and who does it apply to?
If you’re a landlord with a portfolio of buy-to-let properties, then changes announced in the summer Budget, will significantly increase your tax bills. We are revisiting this topic today, because the changes were so complex that their true impact has only just been completely understood (see the working example at the end of this article).
Making tax easier...the end of the tax return...whatever HMRC like to call it, it means a change to the current tax system, and a change to how millions of us manage and pay our taxes.
The Spring Budget 2015 announced plans to abolish Class 2 National Insurance contributions (NICs) next year. In the meantime, the way those contributions are collected is changing and deferment applications are no longer needed for any clients with earnings likely to be below the small earnings threshold or with both self-employed and employed income.
Many of our blogs during 2015 have focussed on such topics as tax relief for travel, serial tax avoiders and RTI. This years’ Autumn Statement encapsulated all of this, and much more, and following are the key highlights affecting Contractors:
