Budget 2017

Now that Mr. Hammond has been speaking about the Budget for 2017, the main points are given below

1. Class 4 – NIC for Self Employed to increase from 9% to 10% in April 2018 & to 11% in April 2019
2. Class 2 – NIC will be axed from April 2018
3. Tax FREE Dividends – to be reduced from £5,000 to £2,000 in April 2018

So, how is this going to affect the Self Employed Businesses? Yes, there will be a rise in Class 4 NIC payments but it could offset the axing of Class 2 NIC payments.

Is it time to go Limited?

Even there, the TAX FREE DIVIDENDS are getting reduced from £5,000 to £2,000 & after that it is getting taxed at 7.50%.

Are you getting confused?

Why not contact us on 07879601780 for an Informal FREE meeting to discuss your needs?