Spring Statement 2018: a summary for contractors

The Chancellor of the Exchequer, Philip Hammond presented his Spring Statement to Parliament on Tuesday 13 March 2018. Unfortunately, the contractor sector must wait a while longer for news on any potential IR35 changes. There is a lot of frustration within the industry as many publications are being waited upon.   What are we still…

2018/19 Income Tax Rates and Allowances

Tax thresholds and rates The amount of Income Tax you deduct from your employees depends on their tax rate band and how much of their taxable income is above their Personal Allowance. There are different rates for Scotland. Income Tax Rate PAYE Dividends Employee personal allowance £11,850 per year - UK basic tax rate 20%…