Archive budget - ContractingWISE

ContractingWise Spring Budget Review March 2020

ContractingWise Spring Budget Review March 2020

By | IR35 | No Comments

In the government’s first budget since re-election and leaving the EU, newly appointed Chancellor Rishi Sunak delivered a budget for “challenging times”. Amidst widespread political and social uncertainty, Sunak addressed the need for the budget 2020 to deliver immediate security for today while also laying the foundation for future prosperity.…

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Contractors Must Act Before February Budget

Contractors Must Act Before February Budget

By | IR35 | No Comments

Although the Conservatives were somewhat reluctant to join the other political parties in promising an IR35 review, their win will at least remove some of the uncertainty surrounding the off-payroll reforms for contractors in April next year. The landslide vote looks likely to bolster the party’s belief in its own policies, and with the new legislation ready to go, it’s unlikely that a review will bring about major changes.…

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Off-payroll reforms will hit the private sector in 2020

Off-payroll reforms will hit the private sector in 2020

By | Already contracting, Articles, Considering contracting, IR35, New to contracting, News | No Comments

The Chancellor’s budget announced that off-payroll rules will hit the private sector in 2020. Amidst uncertainty over Brexit, there are widespread concerns that the reforms will damage business and weaken the economy at a critical time. ContractingWise takes an overview of the off-payroll developments to date.

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Spring Statement 2018

Spring Statement 2018

By | Already contracting, Considering contracting, New to contracting, News | No Comments

Chancellor’s Spring Statement is welcome news for contractors

The Chancellor Philip Hammond’s decision to not add to the tax burden for UK contractors is one to be welcomed.

This is particularly the case after previous Budget announcements increased tax levels and saw a dividend allowance being introduced in 2016, which has led to a contractor’s dividend income above the £5,000 threshold being taxed.…

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Spring Budget 2017

By | News | No Comments

Chancellor Philip Hammond’s eagerly anticipated first and last Spring Budget has already come and gone and whilst we were expecting most of the changes, there were a few announcements which will be affecting the self-employed. A rise in National Insurance Contributions was announced, which controversially breaks a key pledge made in the Conservative manifesto.…

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Budget Update – What contractors need to know about George Osbourne’s 2016 Budget

Budget Update – What contractors need to know about George Osbourne’s 2016 Budget

By | Already contracting, Articles, News | No Comments

Some contractors will emerge slightly better off from the Chancellor of the Exchequer’s 2016 Budget – but those who work for public sector clients will need to make sure their tax affairs and contracts are thoroughly in order.

Public sector limited companies now responsible for Contractor’s tax

From April 2017, any public sector body that hires a contractor through their own limited company will become responsible for making sure that those contractors are paying the right amount of tax.…

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