Good news for IT contractors and limited company directors and employees, from April 2019, your personal allowance is increasing from £11,850 to £12,500 from 6 April 2019 and the higher-rate tax threshold is increasing to  from £46,350 to £50,000.  Also, more good news to IT contractors limited IR35 for private sector does not start till April 2020, so private sector IT contractors do not have to worry about IR35 till 2020.

Other key highlights of the budget for April 2019 are

Personal
The personal allowance increases from £11,850 to £12,500 from 6 April 2019. The allowance will also remain at this level for the 2020/21 tax year.

Basic-rate band
Consequently, this will increase the higher-rate tax threshold from £46,350 to £50,000. This limit will remain in place for the 2020/21 tax year.

Company car benefit
The car fuel benefit multiplier increases from £23,400 to £24,100 from 6 April 2019.

ISAs
The adult ISA annual subscription limit remains at £20,000 for 2019/20. The junior ISA annual subscription limit and the child trust fund annual subscription limit both increase from £4,260 to £4,368 with effect from 6 April 2019.

Lifetime allowance for pensions
The lifetime allowance for pension savings increases for 2019/20 from £1.030 million to £1.055m.

National living wage
The national living wage increases 4.9% from £7.83 an hour to £8.21 an hour from 6 April 2019.

Capital gains tax annual allowance
The capital gains tax (CGT) annual exempt amount for individuals rises from £11,700 to £12,000 from 6 April 2019.

Entrepreneurs’ relief
The Government has increased the minimum period to which certain conditions must be met in order for entrepreneurs’ relief (ER) to be available from one year to two years. This measure will take effect for disposals made on or after 6 April 2019.
These tests must be met for the specified period for relief to be obtainable.

Lettings relief
From April 2020, lettings relief will only be available in circumstances where the owner of the property is in shared occupancy with the tenant.

Private residence relief
The final period of exemption will be reduced from 18 months to nine months with effect from April 2020.

Capital gains tax for non-UK residents
From 6 April 2019, all non-UK resident persons disposing of UK immovable property will be liable to CGT on gains arising from interests in any type of UK land.

Inheritance tax
The residence nil-rate band (RNRB) increases from £125,000 to £150,000 from 6 April 2019 and to £175,000 from 6 April 2020. For estates with a net value of more than £2m, the withdrawal rate is tapered by £1 for every £2 over the £2m threshold.Any unused RNRB can be transferred to a surviving spouse or civil partner.

Business

Corporation tax

The main rate of corporation tax remains at 19% for 2019/20.The intention to cut the rate of corporation tax to 17% in 2020/21 was reiterated.

Annual investment allowance
The annual investment allowance will be temporarily increased from £200,000 to £1m for a two-year period from 1 January 2019.Transitional rules may apply to the allowance where the chargeable period spans either 1 January 2019 or 1 January 2021.

Employment allowance
The employment allowance, which provides many employers with relief of up to £3,000 per tax year from their employers' national insurance contributions (NICs) bill, will be restricted to only those employers who had a NICs bill below £100,000 in the previous tax year.

Off-payroll working in the private sector
Following extensive and prolonged consultation, the Government announced plans to reform the off-payroll working rules - known as IR35 - in the private sector from April 2020.
Responsibility for operating the off-payroll working rules will move to the firm engaging the worker. 
Small organisations will be exempt to ease the administrative burden for the vast majority of engagers, while medium and large organisations will be given support and guidance by HMRC.

Research and development (R&D)
From 1 April 2020, the amount of payable R&D tax credit that a qualifying loss-making company can receive in any tax year will be restricted to three times the company's total Pay As You Earn (PAYE) and NICs liability for that year.This change is subject to consultation.

First-year allowance for electric charge points
The current 100% first-year allowance for expenditure incurred on electric charge point equipment will be extended by a further four years. The measure will expire on 31 March 2023 for corporation tax and 5 April 2023 for income tax.

Digital services tax
From April 2020, the Government will introduce a 2% tax on the revenues of certain digital businesses in an attempt to ensure the amount of tax paid in the UK is reflective of the value derived from their UK users.

UK property income of non-UK resident companies
From 6 April 2020, non-UK resident companies that carry on a UK property business, or have other UK property income, will be charged to corporation tax rather than being charged to income tax.The measure has been introduced to prevent structures that reduce tax bills on UK property held through offshore ownership.

Apprenticeships
A package of reforms will be introduced to strengthen the roles of employers in the apprenticeship programme with one of the main announcements being to halve the co-investment rate for apprenticeship training paid by smaller firms from 10% to 5%.

Class 2 national insurance contributions

As previously announced in September 2018, the Government will not abolish Class 2