Happy New Year everyone! That is, Happy New TAX year!
Good news is – the personal allowance goes up to £11,850.
Good news for employees – the national minimum wage goes up!
Bad news for company directors – the tax free dividend allowance goes down to £2,000.
Good & bad news (depending on your view point) – pension contributions for pension auto enrolment go up to 5% of which 3% is paid by the employee and 2% by the employer.
And to end on a positive note, if you pay CIS tax, from 6th April 2018 you can file your self assessment tax return and get your tax rebate back as soon as possible!
We are here to help – so please feel free to give us a ring on 01670 528416.
