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”.