Are you a contractor? Don’t miss this

contractor, tax, dividend, self-employed

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. The changes to dividend tax will come into force from April 2016.

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