How will the Autumn Statement affect property investors?
January 13, 2016 @ 4:57 pm by Damian Broughton MBE
Chancellor George Osborne unveiled a wealth of new tax measures for property investors in his Autumn Statement and subsequent Draft Finance Bill,many of which will come into force in April of this year.
While there are a few small measures that will bring relief to investors, many of the changes will have an impact and action will need to be taken to prepare to meet the new regulations.
Here we break down the changes you need to consider, whether you are thinking of investing in property or already have your own investment …Read More
What does 2016 have in store for contractors?
January 11, 2016 @ 11:41 am by Damian Broughton MBE
Here at Danbro we work hard to represent the voice of contractors across the country and share our insights, experiences and advice to help the sector grow and prosper. With that in mind, we’ve gazed into the crystal ball and here share our predictions for what self-employed people, temporary workers, freelancers and contractors can expect from 2016.
Government plans and regulations have delivered mixed results for the self-employed sector, but we can look ahead to the next 12 months with optimism and expect to see growth.
Contractor sector will continue to grow …Read More
IR35 plans are shelved – what now for contractors?
January 8, 2016 @ 2:28 pm by Damian Broughton MBE
The Government’s plan for new Intermediaries Legislation – more commonly known as IR35 – has been a hugely controversial issue for everyone working as a contractor, self-employed person, temporary worker or freelancer. The entire industry, Danbro included, has campaigned furiously about plans to boil the regulations down to one simple test and a lengthy consultation has received thousands of responses.
We were expecting clarity on the issue in last year’s Autumn Statement but nothing was mentioned and that fuelled further fears that hasty legislation would be pushed through this April.
However, HMRC …Read More
Eight simple ways for contractors to get the training they need
December 21, 2015 @ 10:23 am by Damian Broughton MBE
Training and continuing professional development are a critical part of working life. Every worker needs to continually update their skills, develop their expertise and broaden their horizons to remain up to date and effective in their role.
For self-employed workers, training is even more important. Training adds value to your commercial offering, opens up new contracts, ensures you deliver more value to clients and boosts your confidence. However, many freelance workers and contractors often struggle to build training and continuing professional development into their working life because of funding and time …Read More
10 golden rules for self-employed people
December 14, 2015 @ 10:00 am by Damian Broughton MBE
There are many benefits to being self-employed – as 1.6 million freelance workers around the UK will testify. From having the power to pick and choose your hours and workload to earning more money, working for yourself has few drawbacks.
But, how do you make a success of this career path and what are the key things you must consider before becoming self-employed?
Here we share our top ten tips for anybody considering becoming a contractor, freelance worker, sole trader or setting up a limited company.
Choose to work in a sector or …Read More
What does the Autumn Statement mean for freelance workers?
December 3, 2015 @ 10:05 am by Damian Broughton MBE
The Autumn Statement was an anti-climax, says Danbro managing director Damian Broughton, however, he warns it did raise some issues that those in the self-employment sector need to be aware of. Here he shares his thoughts on the Chancellor’s latest plans.
Chancellor George Osborne bellowed that this was a “budget for business”, but the reality was it was disappointing at best and a bit of a non-event at worse.
We, like the army of self-employed people around the UK, watched his lengthy performance with baited breath but were left none the wiser. …Read More
Why should I consider becoming self-employed?
December 1, 2015 @ 11:32 am by Damian Broughton MBE
Managing director of Danbro, Damian Broughton, worked as a contractor before founding the national umbrella and accountancy firm. Here he shares his thoughts on the pros and cons of joining the growing army of 1.8m self-employed professionals around the UK.
Hiring in freelance experts has become the modern way of working for British businesses. With skills shortages in most industries, temporary workers who provide experienced insights into key projects have become the lifeblood of UK PLC. It brings businesses a wealth of benefits, not least a cost effective solution that ensures …Read More
Dividend Tax – what the changes may mean for you
November 25, 2015 @ 6:56 pm by Natalie Friel
HMRC have now issued a factsheet detailing exactly how dividend income will be taxed from April 2016, revealing another surprise about the changes ahead.
Within the working examples, there is good news that any unused personal allowance can still be offset against dividend income. However, unexpectedly the new tax free ‘dividend allowance’ of £5,000 will sit within the basic or higher rate tax bands rather than being kept separate.
What this means is that any dividend earned within the £5,000 allowance will not incur tax, however it will count towards your basic or …Read More