Whats your views on Budget 2015?

[ChimpMaster]

Contrafcting is finished - You have nine months to make hay and then quit

The changes in the dividend income rules are so big that it makes no sense to continue having an incorporation

It's heading that way but not quite so bad yet.

Keep under the 40% threshold and it's not so bad - yes you'll pay a grand or so more tax but not quite the death bell ringing... yet

[Jack Kada]

Oh. Is Cameron retiring in 2017?

Contrafcting is finished - You have nine months to make hay and then quit

The changes in the dividend income rules are so big that it makes no sense to continue having an incorporation

[expat]

Too soon to say, but I'll make a prediction anyway:

January 2017 is going to be a very good month for George Osborne for tax revenues, as everyone who took really large dividends in late March / early April of 2016 files and pays their self-assessment.

Oh. Is Cameron retiring in 2017?

[WordIsBond]

Employment allowance increasing to £3K. Good for me, but useless for one-man companies. Increases the incentive for two contractors to band together, I guess.

[WordIsBond]

Is it likely to be more efficient to take a chunk out this year, making use of the 10% credit while it's still there on the 32.5% band (meaning it's actually 25%)?

Too soon to say, but I'll make a prediction anyway:

January 2017 is going to be a very good month for George Osborne for tax revenues, as everyone who took really large dividends in late March / early April of 2016 files and pays their self-assessment.

[Maslins]

Someone is going to have to revise their estimates on what IR35 saves the government. Another budget like this and they might as well scrap it because we won't be that much better off on tax than permies.

Yeah, on Twitter-sphere this does seem to have been suggested. IR35 to become borderline irrelevant because sting of it far less severe, as benefit of low salary high divi slashed.

[Wijay@WISAccountancy]

Is it likely to be more efficient to take a chunk out this year, making use of the 10% credit while it's still there on the 32.5% band (meaning it's actually 25%)?

best not to jump into conclusions until we see the full report :-)

[Bunk]

Is it likely to be more efficient to take a chunk out this year, making use of the 10% credit while it's still there on the 32.5% band (meaning it's actually 25%)?

[TheFaQQer]

When does this kick in? For this tax year or next?

April 2016, so next tax year.

[jamesbrown]

Definitely need to be careful with back of the envelope calculations here, given the wide array of changes and some of the caged wording on dividends (and how it may impact close companies), among other things. It's going to take some time to understand the fallout, and there are also proposals coming forward to "simplify" IR35 and restrict relief on expenses, so the net effects could be quite profound for close companies, i.e. contractors, at least in terms of getting money out.