Latest NI news for entertainers

HMRC are at it again, this time targeting entertainers who trade through their personal service companies. We understand that a number of high-profile performers across the entertainment industry have been subjected to tax enquiries, purporting that the income received by their companies is tantamount to salary. If this were the case, such income would also … Read more Latest NI news for entertainers

March 2011 Budget

For a change, this was an interesting and varied budget, much of which we like, and some of which we don’t!  In terms of impact on our clients, here are our headlines: What we like: 1) Changes in EIS relief – 30% income tax relief from 6 April 2011, significantly increased investment limits from 6 … Read more March 2011 Budget

Class 4 National Insurance Contributions (NIC) and carried forward losses

Where a self-employed person incurs a loss which is relieved for tax in the current or preceding year against total income, that relief is invariably therefore against income other than from self-employment. Whilst this gives the impression that the losses have been utilised (as indeed they have for tax purposes) they are still available to … Read more Class 4 National Insurance Contributions (NIC) and carried forward losses