The chancellor caused quite a stir by raising Class 4 national insurance for the self employed. But that is of course, not the only change he made and the points likely to be of interest to you are included in our Guide to the Budget 2017 which you can download for free. If you operate through a limited company, you won’t be too worried about the increase in national insurance for the self employed but you will be keen to know about the further increase in tax for those in receipt of dividends, by lowering the tax free amount from £5,000 to £2,000. If you are aware of Making Tax Digital, and you are self employed or in a partnership with a turnover (sales) below the VAT registration threshold (currently £83,000 per year) then you have an extra year before you have to comply with the MTD regulations.
Download our free Guide to the Budget 2017.
Download our free Tax rates and allowances 2017
If you want help with advice on anything in this budget please call Dionne on 07977 169206.