There were changes which could increase the tax charge on some companies. Firstly, contractors working through limited companies in the private sector under the "IR35" rules, where the nature of their contract is akin to that of an employee, could experience tax increases from April 2020 to being more in line to how employees are taxed. This process was started in the public sector last year, and was widely predicted to be expanded. The interesting debate, however, is centred around the fact that Personal Service Companies, as they are known, are to be taxed as "employees", whilst not attaining the same level of benefits as employees, T
There were restrictions to tax reliefs for Research & Development expenditure If you qualified, this could be very generous. Previously it had been highlighted that the money allocated by the treasury to encourage innovation in UK companies was not being utilised enough.
