Our Accountancy Blog

Tony Shackleford

Tony Shackleford

Chartered Accountant offering support to Limited companies and the self employed.

Had to check my diary to see if it was the 1st April today. Rather suprisingly it was not, hence the article read today in a taxation magazine must be true. The article stated that from April 2016 Scotland will have its own rate of income tax, which is likley to be 2% lower than the rest of the UK, at 18% for basic rate taxpayers.

 

The Government’s ‘triple tax lock’ prevents increases in many taxes, including employee and employer National Insurance Contributions. Employee NIC contributions are currently 12%.

However this means that self-employed National Insurance Contributions are fair game. It may be the case that the Government sees scope for a tax increase, by changing the rate of self-employed NIC contributions. Perhaps we might be looking at an increase from 9% to a figure similar to that being paid by employees of 12%.

Had a discussion with another client yesterday about the crazy system of univeristy student loan debts!

A recent EU case has provided a new interpretation on the working hours for those employees without a permanent work base.

For such employees, their travel time from home to all places of work needs to be taken into account when calculating hours worked. This can have an impact on the employer when ensuring that minimum wage legislation in adhered to.

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