What Does The Spring Statement Mean For You?
The Chancellor’s Spring Statement had little specifically aimed at the contracting sector or self-employed people, which is positive given the last few years of IR35 and off-payroll legislation reforms amongst others. However the fuel duty cuts will not go far enough for all the gig and platform economy workers, and other self-employed people who spend […]
Budget Will Cost Households £3k Annually
The Chancellor’s budget will result in a new high tax economy according to overnight analysis by the Resolution Foundation. With higher growth, inflation and public spending than previously expected, combined with tax rises already in train, the Foundation warns that Britain could be set for a flat recovery for household living standards. In 2026-27 tax […]
National Living Wage Rises to £9.50
It has been confirmed that the National Living Wage will rise by 6.6% to £9.50 per hour for people aged over 23, effective from April 2022. The increase is more than twice the current 3.1% rise in the cost of living. Minimum pay rates for younger workers are also set to go up. The National […]
Chancellor Urged To Pause Loan Charge Activity
In their submission to Rishi Sunak’s forthcoming Budget (due on 27 October 2021), the Low Incomes Tax Reform Group (LITRG) have urged him to pause all loan charge activity, and to review the current loan charge situation. Many people are still being paid via disguised remuneration schemes, often by umbrella companies which are not even […]