Navigating the crisis The Coronavirus (COVID-19) pandemic and associated shutdown has significantly affected many businesses. We know you may be suffering in terms of cash flow and face enormous uncertainty about the future for your business. We will do all we can to help you. In this newsletter we have brought together what you need […]
The new tax : Loan charge
If you were persuaded to take a loan in place of
part of your pay in the past and you have not repaid it, you may now be liable to pay a new tax called the loan charge.
Employment Status – ‘the worker’
The definition of employee versus self-employed is an age old debate. How has the government and HMRC begun to respond to these changes?
NIC for the self-employed
For reasons lost in the mists of time, self-employed individuals pay two types of national insurance contributions (NIC): Class 2 and Class 4. Class 2 is charged at £148.20 per year (for 2017-18), and is only payable if your annual profits are £6,025 or more. Class 4 NIC is calculated as 9% of your profits […]