Tax changes could reduce contractor’s take-home pay
08 Jul 2016
With the UK’s tax rates, allowances and reliefs being changed on such a regular basis, it is no wonder that taxpayers are confused and finding it increasing hard to keep up to date.
HM Revenue & Customs have now said that contractors using so-called “personal service” companies are avoiding income and tax and national insurance. From next April it is proposed that such taxes be taken at source by their “employer”.
At Beavis Morgan we plan the tax affairs of our clients in proactive, specific and legitimate ways. If you would like to know more or wish to discuss your unique situation in further detail, contact Paul Attridge, Alan Ford or your usual Beavis Morgan Partner.