A day rate contractor is a hybrid between employed and self-employed. Most work off payroll for a client who is similar to an employer. Contractors work on one contract at a time and are, therefore, different from being self-employed, where people may work with many...
The new financial year started on 6th April 2020. One of the main questions that arise during this time of the year is “what is the optimal salary for a sole director company?’. We have provided a few bits of guidance below. For tax year 2020/21, personal allowance...
Financial year for 2019/20 began on 6th April 2019. Here is a quick refresher of changes you need to be aware of. Personal Allowance Personal allowance (the annual amount you can earn before paying tax) for this financial year – rises from £11,850 to £12,500. If...
The cost of childcare in the UK has increased significantly compared to rest of the world. A recent research sugests many parents in UK are now spending more on childcare than their mortgage. Government recently stopped “Childcare voucher” via salary...
What is Relevant life insurance? Relevant life insurance is an insurance policy that a business can take out to provide life insurance for an individual employee. The policy is applied and paid for by the business, and is written into trust from outset so it pays out...
The Self-Assessment return for 2016/17 will be the very first return with Dividend Tax. Dividend tax was introduced by former Chancellor to Exchequer George Osborne in Budget 2016. Key changes from 6th April 2016 are, The Dividend Tax (10%) Credit will be abolished...
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