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TUC: Tax changes ‘robbing from poor’

The Chancellor’s changes to tax and benefits mean the poorest working families will lose on average £460 a year, while the richest homes will be £670 better off, the TUC union has claimed. The union’s research examined average impacts across all UK households of the changes made in the July…

contractor, tax, dividend, self-employed

Are you a contractor? Don’t miss this

If you’re a contractor who gets paid through a limited company as a way of paying less tax, you’ll soon be in for a shock. Under new dividend tax rules announced in the July budget, self-employed contractors will have to pay an extra £2,000 in tax for an £80,000 contract.…

HMRC’s powers increase to dig the dirt on you

HMRC’s powers to dig the dirt on you are set to rocket. The taxman’s software – called ‘Connect’ – already has the capability to trawl through billions of items of personal financial information from dozens of sources in its quest to find unpaid tax. And soon the software will have…

How can your pension cut Child Benefit tax?

More middle-income families could face a Child Benefit tax charge following this year’s emergency Budget, according to NFU Mutual. The financial services company has said that the Chancellor could reduce the Child Benefit threshold to bring it into line with higher rate income tax. Child Benefit tax charge currently starts…