From 2018 Class 2 national insurance will be abolished for the self-employed. From 6 April 2016 the rate of tax payable by close companies on loans to participators will increase from 25% to 32.5%, this applies to loans made after the 6 April 2016. This aligns the rate with the higher rate of tax charged on dividend income and should be a consideration when looking at company year-end tax planning. Corporation tax will be cut to 17% in 2020, it was originally set to drop to 18%