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IS THERESA May a football fan?
We’re not sure whether she’s ever been asked, but after the last two weeks we at CEJ are willing to bet that the Prime Minister is a huge admirer of Dutch footballing legend Johan Cruyff.
Those of you of a certain age may remember Cruyff as being arguably the greatest player in the world in the 1970s, famed for his trademark turn (there’s a link here if you’ve never seen it in action) which bamboozled many a world class defender from Berlin to Buenos Aires.
But back to Mrs May. After executing a world class turn of her own by declaring a snap election on June 8, the Prime Minister has done another Cruyff impression with another reversal.
Good news is, though, this is great news for contractors.
You will remember that Chancellor Philip Hammond used this year’s March budget to announce that, from April 2018, the tax-free dividend allowance will go down from £5k to £2k, meaning contractors are likely to be £225 a year worse off. There’s a link to our blog on that very subject right here.
That change was part of a finance bill which is now having to be rushed through Parliament before its pre-election dissolution onWednesday May 3 (at one minute past midnight to be precise). As a result, huge chunks of the bill have been wiped out – including the bit about the dividend allowance.
Result! Thanks, Mrs M!
It would, however, be remiss of us not to mention one small caveat: should the Conservatives win on June 8, they may well decide to redraft the Finance Bill AGAIN in order to get the changes into effect by next April.
We’ll keep you updated!
As ever, if you have any questions get in touch: email Jo (firstname.lastname@example.org), Ben (email@example.com) or Peter (firstname.lastname@example.org).