Archive for July, 2015

Workplace pension schemes and personal services companies

Under the UK government’s pension reforms, almost every business (even those with a single employee) is now obliged to provide (by a specified date) a workplace pension scheme into which its workers and jobholders are automatically enrolled. There are, however, certain exceptions to this, one of which may apply to some personal services companies. A […]

SELF ASSESSMENT PAYMENTS ON ACCOUNT

If you’re a UK taxpayer who makes annual self-assessment income tax returns then you need to be aware of what HMRC calls payments on account and how they work. As the name suggests, payments on account are payments towards your next income tax bill (and your class 4 National Insurance bill if you’re self-employed). You […]

THE SUMMER BUDGET AND PERSONAL SERVICES COMPANIES

The first Conservative only budget in more than 19 years was certainly not welcomed by the contracting community. We have highlighted the main areas that will be changing from 6th April 2016 below. From a contractor’s point of view one of the biggest changes announced in the budget is the change to the way in […]

The 2015 Budget, round two – headlines and summary.

In this, his second budget of 2015, the Chancellor delivered a mixed bag of cuts, rises and changes to tax rates alongside a raft of welfare benefit reforms. Here, we present a summary of the main points. ECONOMIC PROJECTIONS The Office for Budget Responsibility has reduced its economic growth forecast for 2015 from 2.5% to […]