Originally posted by barrydidit
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Budget
Collapse
X
-
Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishing -
Originally posted by PurpleGorilla View PostAnd the increase in FRS VAT.
So technically, if you're arguing FRS for this year, the dividend hit is for next year.
So, £12 per day hit on a £500/day contract this year plus £30 per year NI.
Next year sees the £2k threshold for dividends.
But we also see the thresholds rising to 12.5k and 50k by 2020 for the two tax levels.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
Originally posted by LondonManc View Post£3k worse off?
Surely it's 7% of £3k?
Plus about £30 per year of additional NI?
There's then the reduction in Corp Tax to relieve that (while that was originally to balance out dividend tax, we're looking at the here and now).His heart is in the right place - shame we can't say the same about his brain...Comment
-
Originally posted by Mordac View PostIt's not 7% of 3K, it's your top rate of tax, so in most cases it's 40%. And it's not £30, but I'll leave that to an expert. The CT cut will be irrelevant to most of us, because we'll be taxed out of existence by 2019.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
-
Originally posted by Eirikur View PostI'm not worried because I'm in a 90% retention schemeThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
Comment
-
Originally posted by Mordac View Postwe'll be taxed out of existence by 2019.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Not as bad as I feared, but don't they also publish a booklet where all the less welcome small print can be concealed?Work in the public sector? Read the IR35 FAQ hereComment
-
Originally posted by LondonManc View PostSo, £12 per day hit on a £500/day contract this year plus £30 per year NI.
Anything over £16k and you are worse off -if you earn £30k then my rough calculation is that you're £300 a year worse off because of the NI change. There are plenty of people out there who are self employed, on far less than £500 a day, who will be hit by the change.First they ignore you, then they laugh at you, then they fight you, then you win. But Gandhi never had to deal with HMRCComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment