The UK’s tax burden for freelancers and the self-employed is undeniably high. As Sarah Coles, Head of Personal Finance at Hargreaves Lansdown, points out, “More of us are taxpayers now, and more pay tax at higher rates. A significant proportion of taxpayers now face higher or additional rate taxes.” The situation is likely to become […]

The post Tax burden on freelancers to worsen: here are 17 ways to save on your tax bills to earn more appeared first on Freelance Informer.

Rumours of the October Budget revealing increases to Capital Gains Tax (CGT) and Employer National Insurance could significantly squeeze the income of umbrella company contractors, impacting both their take-home pay and long-term financial planning. Here we go into more detail on how these changes might negatively affect umbrella workers, even if it means their services […]

The post Double tax hit looms for umbrella contractors appeared first on Freelance Informer.

As the 2024 Autumn Budget approaches, small business owners and freelancers across the UK are anxiously awaiting the Chancellor’s announcements on 31 October. With the economy in a delicate state, certain policy changes could be disastrous for freelancers, small business owners and the economy, according to a Newspage Agency report. Unfunded expenditure could lead to […]

The post Autumn Budget 2024: freelancers and small business owners reveal their biggest fears   appeared first on Freelance Informer.

While the 2p reduction in national insurance contributions may offer short-term relief for some, experts warn that it could pave the way for the government to seek revenue elsewhere to pay for salary pay rises of public sector workers and pay off government debt. Freelancers Face Unique Challenges Freelancers, who often rely on irregular income […]

The post Freelancers Brace for Impact: National Insurance Cut May Get Cancelled Out By Replacement Tax Hikes appeared first on Freelance Informer.