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500,000 Could Pay “Top Whack” Tax Rate

If you thought top rate income tax was just reserved for the rich and famous, then think again, as experts warn it could affect half a million.

Come to think of it…those “super rich” playboys and playgirls often get away scot free. It is you, the hard working contractor and freelancer who is left to pick up the tab, yet again.

While they are swanning around on their super yachts and tanning their cheeks on the beaches of Southern France…it is the British contractor who earns 6 figures a year that is being hit with 45% income rate tax.

As we speak, there is 393,000 people in the UK who pay this 45% rate on every pound they make. However, experts are predicting that around 500,000 people will soon fall under the 150k banner, which means they will also be subject to the 45% rate.

Many of these extra “top earners” will be contractors and freelancers of course. Just ordinary self employed business owners who want to do their best for themselves and their families.

In an ideal world they could bank their 6 figures and keep all of the profits, but this is far from an ideal world. This is a world where if you don’t pay HMRC, then expect them to be knocking at your front door, and nobody wants that.

A leading accountancy firm predicts that in just 5 years time over 500,000 people will be paying 45% tax. Now, more than ever before, do contractors need the services of a professional if you ask me.

What kind of professional? A contractor accountant is exactly the kind of professional that you need, especially if your income is currently or going to be around that £150,000 threshold.

A contractor accountants knowledge and expertise could take you just below the threshold (legally of course), which means you won’t be part of the 500,000.

“I’m not one of the half million,” you can shout…”It’s all thanks to my contractor accountant,” you will add.

Extra money in your pocket and a smile on your face. That is the kind of benefits enjoyed by the thousands who hire a contractor accountant on a monthly basis to look after their finances.

Not sure which contractor accountant to choose? Well, fortunately you are on the right website right now, as we specialise in bringing you the best contractor accountants that are open and waiting for your business right now.

Many of these trusted contractor accountants offer all of their years of experience and knowledge for 1 low monthly fee. Simply look to the right of the page NOW and discover the perfect match for you.

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