With 2016’s Tax rates/NI thresholds having finally been published by HMRC, there is some good news, albeit very slight, in that next year’s emergency code (1060L not 1050L as previously thought) means the average contractor will be better off by about £2.40 per week. Although it doesn’t appear to be much, every little helps! It is not all roses though as the 40% Tax bracket has again been lowered, meaning that middle-high earners won’t feel this benefit. Please see the link below for a full list of rates and thresholds for the new and upcoming 2015-2016 Tax year: https://www.gov.uk/rates-and-thresholds-for-employers-2015-to-2016