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Here at The Tax Experts, we are in a position to be able to give contractor tax advice regarding contractor tax planning which leads to contractors receiving a significantly greater amount than they otherwise would if they did not use our tax planning. You can call us for more details.
How contractor tax Reduction works
Since December 2010 the Inland Revenue has legislated against the employee benefit trust. This mechanism was used extensively by contractors and the methods they used to as a way to ensure that they minimised their contractor tax.
However, the good news is that when that contractor tax avoidance door closed another door opened and we now have new and effective ways to ensure contractor tax reduction. These nuggets of contractor tax advice achieve the same results as the employee benefit trust within the confines of the law.
To qualify for this method of contractor tax planning, and to use our contractor tax advice properly contractors need to be earning over £50,000 per annum.
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There is a great deal of information available about contracting in this handy podcast: Download Contractors AudioCast
Why it pays to get good contractor tax advice
In order to save money when getting contractor tax advice, it pays to have some background knowledge on the subject of contractor tax avoidance. This is so that your money is not consumed by lengthy explanations about contractor tax and more importantly, you ask the right contractor tax questions. To assist you in this regard we highly recommend that you read the tax guide that best suits your contractor tax requirements. You can review all or up to date tax guides by visiting our book shop.
Some guides that may relate to your contractor tax advice needs are as follows. For more information on the respective guide, just click on the picture.