Time for the self employed to start paying tax

Unfortunately, if you’re self employed, and you want a mortgage, you’re going to have to start paying more tax.

People who are self employed use accountants to reduce their declared income and minimize their tax liability, however now all income has to be proved, the declared income needs to be increased. And more income means more tax!

This doesn’t mean accountants will go out of business, they just need to strike the right balance for the requirements of each of their clients!