In his eighth Budget, George Osborne has set out measures to improve the health of the UK economy. The 2016/17 Budget aims to balance the country’s finances as well as reduce national debt and the budget deficit.
The 2016/17 fiscal year starting on 6th April 2016 is set to introduce changes to dividend taxation that will affect Directors of limited companies. Any contractor who, as the shareholder of his or her own limited company, takes over £5,000 in dividends will be affected. Those who reach the higher rate tax threshold will be affected the most.
As your contractor accountants in London, we keep you updated with the latest changes in legislation and bring you the most important highlights from the news. Coming up on Wednesday, 16th March is the annual Budget. George Osborne will take to the House of Commons to deliver his third, wholly Conservative Budget.
The engineering sector provides a wealth of opportunities every year for engineers looking to start a contracting career. Despite turmoil in the oil and gas industries, investment opportunities in UK infrastructure and other areas of engineering will allow many engineering contractors to develop their professional skills and experience in 2016.
IT is set to be a prosperous sector for contractors in 2016, with an ongoing skills shortage leading to many contract opportunities for IT and technology professionals. If you are looking to start your contracting career, you need to make sure your IT knowledge is up to scratch with the latest industry developments.