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 […]