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The contractor gets hammered again - (the Budget and more)

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    The contractor gets hammered again - (the Budget and more)

    I'd not paid much attention to the budget, assuming it was the usual tinkering here and there without much substantial change.

    Listening to this weeks BBC Radio 4 - Money Box, Small Businesses Hit By Budget I couldn't have been wrong - it appears this was a budget to (and I believe this is the correct phrase) shaft contractors good and proper.

    The headlines are:
    • Dividends of £5k or more taxed at 7.5%, 32.5% (currently 25%) and 38.1 (currently 30.5%).
    • No NIC employment allowance for 1 person companies


    There's also consultation document (the thing that get published prior to discenting responses being ignored and its contents becoming law) that's looking to clamp down on travel and subsistence expenses and toughening up IR35.

    There's more on all this in the article Summer Budget 2015 hits PSC contractors, hard on this very site.

    It certainly seems that the war against contracting is being stepped up a gear, which can only serve to see more and more work being pushed off-shore - a loss to the UK as a whole.

    #2
    You're a bit late to the party I'm afraid.

    Go have a read of the threads in Accounting/Legal. Been discussed at length from the minute it was announced in the budget speech.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

    Comment


      #3
      And Wham! split up.

      Comment


        #4
        Originally posted by DaveB View Post
        You're a bit late to the party I'm afraid.

        Go have a read of the threads in Accounting/Legal. Been discussed at length from the minute it was announced in the budget speech.
        Doh - sorry, had scanned through - must look more closely...

        Comment


          #5
          Originally posted by DimPrawn View Post
          And Wham! split up.

          What?! When?!
          "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

          Comment


            #6
            There is no war against contractors, you're not that important. They simply found a segment of the working population who were amongst the highest earners and paying less tax, and moved to 'correct' that. It will play well in PR terms to talk about "preventing people earning £100k avoiding tax by working through a personal service company" and we are the collateral.
            Originally posted by MaryPoppins
            I'd still not breastfeed a nazi
            Originally posted by vetran
            Urine is quite nourishing

            Comment


              #7
              Oh tulip, why did no one tell us this before!
              Originally posted by Stevie Wonder Boy
              I can't see any way to do it can you please advise?

              I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

              Comment


                #8
                Originally posted by nickersan View Post
                Doh - sorry, had scanned through - must look more closely...
                He must think we all live under a rock and spend all day talking irrelevant bollox to each other......

                Comment


                  #9
                  Wait! What! When was this! Oh last week...

                  Comment


                    #10
                    Originally posted by nickersan View Post
                    I'd not paid much attention to the budget, assuming it was the usual tinkering here and there without much substantial change.

                    Listening to this weeks BBC Radio 4 - Money Box, Small Businesses Hit By Budget I couldn't have been wrong - it appears this was a budget to (and I believe this is the correct phrase) shaft contractors good and proper.

                    The headlines are:
                    • Dividends of £5k or more taxed at 7.5%, 32.5% (currently 25%) and 38.1 (currently 30.5%).
                    • No NIC employment allowance for 1 person companies


                    There's also consultation document (the thing that get published prior to discenting responses being ignored and its contents becoming law) that's looking to clamp down on travel and subsistence expenses and toughening up IR35.

                    There's more on all this in the article Summer Budget 2015 hits PSC contractors, hard on this very site.

                    It certainly seems that the war against contracting is being stepped up a gear, which can only serve to see more and more work being pushed off-shore - a loss to the UK as a whole.
                    And I am not gloating
                    Let us not forget EU open doors immigration benefits IT contractors more than anyone

                    Comment

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