The Practical Guide to Limited Company Tax
If you have chosen to operate your business as a limited com...
By Jonathan London on 6th May 2015
For contractors and the self-employed, it’s impossible not to be aware of the imminent general election, which has been dominating headlines for months.
Today (May 6th) is the eve of the election itself, with recent polls suggesting the vote will be one of the closest in recent memory. For many, this has been a source of uncertainty and tentativeness, as it becomes increasingly clear which party leader will hold the reins of power once all the votes are tallied.
Naturally, you’ll be wondering about what kind of policies the new administration will be implementing to govern self-employment, and whether they will be better or worse off as a result. Before we all sit and wait for the election results to come in, it’ll be valuable to consider the stated policies of the main parties in order to get a better idea of what is to come, or if you haven’t made your mind up yet, who to vote for.
The Conservatives frequently describe themselves as the party of business, and have therefore pledged a number of measures that could be beneficial to small firms and the self-employed.
David Cameron’s party will be hoping to attract votes with policies such as:
Ed Miliband’s Labour Party will be attempting to appeal to its traditional supporter base with measures aimed at empowering smaller organisations and working individuals. These include:
The Liberal Democrats, led by Nick Clegg, will be pursuing their agenda of social justice and egalitarianism with a number of policies that will affect contractors directly. These include:
With a hung parliament the likely outcome of the election, contractors should also be aware of the fact that another coalition government is expected, meaning the victorious leader may need to come to agreements with smaller parties – such as the Scottish National Party, the Green Party and UKIP – before deciding on their approach.
As such, contractors should try and keep themselves abreast of all the latest developments so they know where they stand in the new political paradigm.
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