Much remains up in the air regarding the government’s package of measures to support businesses during the Covid-19 outbreak. However, one measure that could significantly help limited company contractors is the announcement that VAT and Income Tax payments due between now and the end of June will be deferred for three months.…READ MORE
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.…READ MORE