To understand how announcements made in the Budget on 29th October, 2018 will affect your financial situation, read on....
The main rate of corporation tax remains at 19% for 2019/20.
The intention to cut the rate of corporation tax to 17% in 2020/21 was reiterated.
The annual investment allowance will be temporarily increased from £200,000 to £1M for a two-year period from 1st January, 2019.
Going into Budget 2018, between leaks and political instability, few expected Chancellor Philip Hammond would have surprises left to spring....
How wrong we were.
Under pressure to support No 10's 'end of austerity' message, bolstered by revised growth forecasts from the Office of Budget Responsibility, and safe in the knowledge that it could all go out of the window in the event of a no-deal Brexit, the Chancellor gave the most eventful Budget speech of recent years.
A brief guide to the tax implications of IR35.
IR35 is the shorthand name for tax rules concerning the provision of personal services through intermediaries.
These rules came into effect on 6th April 2000 but they were significantly amended from 6th April 2017 for contracts involving public sector bodies.
There are now two different applications of IR35 - for the private sector and for the public sector. HMRC also refers to circumstances which may fall within IR35 as 'off-payroll working'.
