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18 Mar

Budget Report 2016 - Personal Announcements

Pitched as a "Budget that puts the next generation first", George Osborne's speech contained a number of announcements aimed at helping people save for the future.

For businesses, measures included changes to business rates and the abolition of class 2 national insurance contributions for the self-employed.

And, as we've come to expect from such occasions, there were a few surprises too....

The following report summarises the announcements made by Chancellor George Osborne during the Budget 2016 on 16th March, 2016.

Important Information:

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17 Mar

Budget Report 2016 - Business Announcements

Introduction

Pitched as a "Budget that puts the next generation first", George Osborne's speech contained a number of announcements aimed at helping people save for the future.

For businesses, measures included changes to business rates and the abolition of class 2 national insurance contributions for the self-employed.

And, as we've come to expect from such occasions, there were a few surprises too....

The following report summarises the announcements made by Chancellor George Osborne during the Budget 2016 on 16th March, 2016.

 

Continue Reading
15 Mar

Salary Or Dividend?

What Is The Most Tax-Efficient Way To Pay Yourself In 2016/17?

Owner-managers and contractors often pay themselves ina combination of salaries bonuses and dividends.

A common strategy is to draw a salary of around £8,000 while also extracting profits from the business as a dividend.  A salary of £8,060 (for the 2015/16 tax year) preserves entitlement to the state pension and some benefits.  It is also within the personal allowance and below the threshold for employer and employee national insurance contributions (NICs).

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