With the onset of the new 2015/16 tax year, the government is offering qualifying couples the opportunity to share part of their annual Income Tax Personal Allowance. This move follows Prime Minister, David Cameron, describing married couples as “the bedrock of our society”.
The 2015/16 tax year has begun and with this comes changes to the tax system within the UK. Churchill Knight’s Personal Tax team have identified the key points, and explain how these could affect you as a contractor.
Like many embarking on a career in contracting, you will probably find yourself wondering what is the best way to set up and run your new business. For most contractors this choice essentially comes down to operating under an umbrella company, or establishing and running your own limited company.
Much has been said about the Onshore Employment Intermediaries legislation and how it will affect recruitment agencies from the 6th April.
Following the Chancellor’s Budget last Wednesday, it was confirmed that the government will be “clamping down on agencies who abuse tax relief on travel and subsistence”.
Another year, another Budget. With just 50 days to the next general election, and potentially the last one to be delivered by the current government, this was always going to be a Budget that would be much anticipated.
Chancellor George Osborne began his Budget statement yesterday with the words “Britain is walking tall again”.
Some think that there is no room for headline grabbing measures to be announced by the Chancellor next week; others see this as a perfect opportunity to launch a few political fireworks ahead of the election race really getting underway.
Following on from the success of last month’s blog on how to reduce your costs whilst staying away from home, we thought we would provide you with some further money saving tips. This time in relation to the costs incurred whilst travelling as part of your contracting work life.
Question: Can I use my personal bank account for my limited company?