Guidance on the impact of the Budget 2017 on small businesses and contractors. Reduction in dividend allowance Currently an individual may receive up to £5,000 in tax free dividend income each year and from April 2018 this allowance will be reduced to £2,000. Making tax digital For sole traders and partnerships ...more

Guidance on the impact of the Autumn Statement 2016 on small businesses and contractors. Class 2 National Insurance As announced at Budget 2016, Class 2 NICs will be abolished from April 2018 and self employed contributory benefit entitlement will be accessed through payment of Class 3 and Class 4 NICs. All self ...more

On 16 March 16 the government delivered the 2016 Budget: Changes in tax rates and allowances The following changes were announced: Corporation tax, which is currently 20%, will be reduced to 17% by 2020. The personal allowance which for 2016/7 is £11,000 will for 2017/8 increase to £11,500. Similarly, the higher ...more