Insurances.net
insurances.net » Mortgage Insurance » How The Budget Affects It Contractors
Auto Insurance Life Insurance Family Insurance Health Insurance Travel Insurance Mortgage Insurance Buying Insurance Accident Insurance Housing Insurance Personal Insurance Medical Insurance Property Insurance Mobile Insurance Internet Insurance Pregnant Insurance Dental Insurance Children Insurance Baby Insurance Employee Insurance Liability Insurance Pet Insurance Boat Insurance Cancer Insurance Insurance Quotes Others

How The Budget Affects It Contractors

How The Budget Affects It Contractors

We will be publishing all the details on how the Budget affects IT Contractors as the Chancellor speaks.


1. Corporation Tax for Small Business will not now increase by 1p in the pound next year as planned. It will stay at 21% as opposed to the 22% it was to go up to. This will now be deferred.

2. VAT will go back to being 17.5% as planned.

3. All NI rates to increase by additional 0.5% for all those earning 20,000 or more from 2011. It was already scheduled to go up by 0.5% from 2011.

4. Economy to shrink by 4.75% this year.

5. Economy to grow by 1-1.5% in 2010.

6. Borrowing to be 178bn - mainly caused by lowertax receipts and VAT.

7. No increases, it appears, on alcohol, cigarette and petrol duty

8. Pensions will go up by 2.5% (for those older contractors who never saved up).

9. Public sector wage increases to be capped by 1% for the next two years (so going permie is not the way out).

10. Higher rate tax bracket to remain at 43,000.

In recent years, we have seen the main interest for IT Contractors coming after the Budget in the small print or in Appendixes added to it, e.g. in the area of Umbrella Companies or Managed Service Companies so we will have to see if there are many major changes there.

The Chancellor says that he is going to clamp down on tax dodgers. We will have to see if he includes IT Contractors in that.

For more information : Umbrella Company

by: Gerry
Mortgage Ireland - What Are The Best Mortgage Options In Ireland Right Now? How To Get The Best Mortgage Rate - You Could Attain These All With Easiness! Obtain The Best Mortgage Interest Rate The Best Mortgage Company - Several Details To Be Concerned About Find The Best Mortgage Loan Rate Locate The Best Mortgage Rate Nj Where To Attain The Best Mortgage Rates Uk Find Best Mortgage Rate - Obtain One And Compare Certain Rates Investments That Build Personal Wealth Reverse Mortgage Loan Why Mortgages Are Important In Today Economic Environment A Way To Productive Aging Build Personal Wealth With Savings
Write post print
www.insurances.net guest:  register | login | search IP(3.215.182.36) District Of Columbia / Washington Processed in 0.017726 second(s), 6 queries , Gzip enabled debug code: 28 , 1674, 965,
How The Budget Affects It Contractors Washington