Self-employed face high levels of debt

Thousands of self-employed people and small business owners are facing high levels of debt, according to research by the Money Advice Trust. Of around 36,000 people who contacted the trust in 2017, almost half (49%) had debts of £10,000 or more, with nearly a quarter...

Dates and deadlines for November 2018

With only a couple of months to go until the New Year, here are the main deadlines to keep in mind this November. 7 November 2018 VAT return  Due date for September VAT returns unless exempted. 14 November 2018 EC sales list Deadline for paper monthly or...

IR35 reforms to be extended to the private sector

Contractors could face a higher tax bill from April 2020, when reforms to IR35 legislation are set to take effect in the private sector. This is expected to raise more than £3 billion between 2020 and 2024, as self-employed individuals who fall within the rules and...

Higher-rate earners hit by NICs rise

Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a measure not mentioned in the Budget speech. In Budget 2018, the Chancellor announced that the higher-rate income tax...

Business rates cut for small retailers

Small retail businesses in England are set to benefit from a reduction to business rates, as announced in Budget 2018. Business rates will be reduced by a third for many retail properties with a rateable value below £51,000 for two years from April 2019, subject to...