Income Tax Rates and Allowances 2018/19 and 2017/18

As a contractor, it's important to know the rates and thresholds when operating payroll or calculating expenses and benefits. We cover the changes in income tax rates and allowances in 2018/19. You can also scroll down a little further to see the rates, allowances and duties for tax year 2017/18. Please click the drop-down options below…

HMRC wins first IR35 case in seven years against former BBC presenter Christa Ackroyd

Former BBC presenter, Christa Ackroyd has lost her legal battle with HMRC and is now facing a fine of £419,151 in outstanding income tax and national insurance contributions covering tax years: 2006/07 to 2012/13. This ruling made by the first tier tribunal (FTT) was based on the judgement that despite Ackroyd working through a PSC…

The Government’s new ‘Good Work Plan’ has been revealed

In response to Matthew Taylor’s Independent Review of Employment Practices in the Modern Economy in 2017, the government have revealed this week their new Good Work Plan that recommends new rights for the UK’s flexible workforce. Alongside further consultations on the future of the UK workforce, the government will also be looking to tighten penalties against…

What is the outlook for contractors in the UK job market in 2018?

The outlook of the UK job market in 2018 continues to look promising for contractors. Vacancies, billings and pay rates remain encouraging, persistently growing throughout December and into the New Year. According to recruitment agencies surveyed for the REC/IHS Markit Report on Jobs, the introduction of new projects and a greater demand for short-term workers…

The weird, wonderful and downright bizarre excuses for missed tax return deadlines

During your school days, you likely heard excuses along the lines of ‘the dog ate my homework’ or ‘my printer broke’ from a classmate who was attempting to avoid detention. But did you think the silly excuses ended at childhood? Well, think again. The HMRC recently revealed some peculiar explanations made by taxpayers for why…

Market update – a very merry Christmas for contractors

In the latest Report on Jobs released by the REC/IHS Markit, the past month has been favourable for contractors. Data gathered from consultants and employers revealed that temp billings and pay rates saw a healthy increase for temporary staff. The growth of temp billings was, in fact, the sharpest rise reported in 2 years. Around…