Contractors who are paid weekly, bi-weekly or every four weeks and whose final payday for the 2018/19 tax year falls on the 5th April 2019 may be affected by the week 53 payment.
The 2019/20 tax year begins on Saturday, 6th April 2019. There are some changes you need to be aware of as a contractor (some of which have already come into effect from the 1st April) as you may be affected.
Why would you need to switch from running your own limited company to using an umbrella company? We discuss the possible reasons behind this and what you need to do to switch from limited company to umbrella – if you find you will be better off making the switch.