The Future of Tax is Digital

…activity, at which point their tax liability for that particular year will be finalised. For taxpayers using the optional cash basis (see below), this may be as simple as confirming…

Self-Employed Face Tax Hike In The Budget

…The selfemployed face being hit with a tax rise in Wednesday’s Budget as the Chancellor looks to increase the National Insurance (NI) they pay. Using a recent report by…

Spring Budget update – A turn for the worse

…and the selfemployed as justification for taxing the latter more. There is no direct comparison between the two as the selfemployed take far greater risks with their livelihood, and do…

Accountants call for clarity over scrapping of class 2 NICs

…Top 40 accountants Bishop Fleming are calling on the government to be open and honest about its plans to reform National Insurance Contributions (NICs) paid by the selfemployed. The…

Self employed? Take care not to overpay your NICs

…rate thereafter. If a GP has employed and selfemployed income, care should be taken when preparing tax returns to ensure NICs are not paid over the maximum set out by…

Making Tax Digital

…they have no employees they use cash basis accounting HMRC will not require free software to link or integrate with an agent’s product. Digital timetable April 2019 – Digitisation of…

Chaos looms for firms in IR35 plans

…Businesses face chaos from next year as the government forces them in to working out whether any company contractors they engage are employed or self employed and should be…

Making Tax Digital for business

…so. The quarterly updates will differ depending on whether the business opts to use a cashbasis of accounting, instead of the normal accruals basis. Where a cash basis is used,…

National Insurance U-Turn, but dividends tax goes ahead

…The government has announced that the proposed increase in National Insurance paid by the selfemployed will be shelved until at least 2020. In the Spring Budget the Chancellor had…

 
 
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