The Budget October 2021
Autumn Budget 2021 The Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Main Budget proposals [...]
The Super-Deduction Tax Relief
As a Limited Company contractor you’ll no doubt have equipment to enable you to complete your work. HMRC allows you to offset part of the cost of purchasing said equipment against your company profits. Plus, as an extra bonus, [...]
A contractor’s guide to the announced dividend tax increase
Contractors have had a lot of change this year, so it’s safe to say that the unexpected increase to dividend tax rates was a bit of an unexpected (and unwanted) announcement. In this blog we explore what’s been announced, [...]
Should you be doing ATED returns as a property investor?
What is an ATED? An Annual Tax on Enveloped Dwellings (ATED) is an annual tax that’s payable by UK companies that own UK residential property with a value greater than £500,000. If your property satisfies one of the following [...]
Taking money from your Limited Company & how tax is affected
If you find yourself needing to take money out of your Limited Company there’s a few things you’ll need to be aware of before you do so, one of which is the tax implications. In this blog we take [...]
Seven top tips for Limited Company contractors to reduce your income tax bill in 2021
We’re now well into the new tax year, and whilst tax might be at the back of your mind, it’s still well worth understanding its importance and how making it work in your favour could save you money. In [...]
Should you opt-in or opt-out of The Agency Conduct Regulations?
The Conduct of Employment Agencies and Employment Business Regulations 2003 were created in 2004, with the aim to enforce a group of minimum standards which the UK’s private recruitment industry must adhere to. These standards are applicable to both [...]
The Status Determination Statement (SDS) – do you have yours?
As a Limited Company contractor the IR35 reform has probably played a big part in your year so far, including ensuring you were ready for whatever it had up its sleeve for you. But has your end hirer / [...]
A guide to dividends and what you need to know as a Limited Company contractor
For Limited Company contractors, dividends are a fantastic way to maximise your take home pay and increase your tax-efficiency, but getting your head around them can be a little tricky. Whilst it’s always a good idea to have the [...]
Budget 2021 – what does it mean for contractors?
Although Rishi Sunak’s budget today didn’t repeal the off-payroll legislation change due in April as we might have hoped, it’s not all bad news for contractors.With the economy expected to recover to pre-Covid level by mid-2022, the Chancellor set out [...]
The VAT Deferral Scheme
On February 11th HMRC announced that as part of its COVID-19 support, all VAT registered businesses were able to defer their VAT liabilities generating between March 20th and June 30th 2020 to help with their cashflow. In this blog [...]
Using your Limited Company abroad post-Brexit
The UK will be leaving the EU on December 31st, so what does that mean for contractors using their Limited Company outside of the UK? In this blog we explore the way in which you can contract abroad, post-Brexit. [...]
Furlough extended until March, Job Retention bonus scrapped
It has now been confirmed that the Coronavirus Job Retention Scheme has been extended until 31 March 2021. From 1 November 2020, employers can claim 80% of an employee’s usual salary while they’re in furlough, up to a maximum [...]
Furlough scheme extended for November 2020
Hours before the furlough scheme was due to end on October 31st, the government has announced it will be extended until the end of November, as a further lockdown has been announced for England. Under the Coronavirus Jobs Retention [...]
What are your options when working inside IR35?
As we inch ever closer to The April 2021 IR35 reform, many of you might be wondering what will happen if you’re found inside IR35 and the impact this will have on your take home pay. Whilst your dedicated [...]
IR35 April 2021 – essential FAQs
IR35 changes are just around the corner. Be ready with our essential FAQs. What is changing? From April 2021, the rules surrounding IR35 in the Private sector will be brought in line with those currently in the Public sector. [...]
How to challenge a client’s IR35 determination
The rules for how to determine IR35 status aren’t changing, only the entity in charge of making the determination. Whoever makes the decision is expected to use reasonable care in making the determination, and judge each contract on its [...]
IR35 April 2021 – a reminder of what’s happening
Remember when IR35 was the biggest thing to worry about? It feels like a life time ago now, and you may have even forgotten, given everything else that’s been going on. But whilst it may seem like it’s taken a [...]
Coronavirus business support measures
Rishi Sunak today announced that the government will cover up to two thirds of workers' wages if their hours have been reduced due to the coronavirus pandemic. It is hoped that the ‘Jobs Support Scheme’ will help to reduce [...]
Finding the right contractor accountant for you
As a Limited Company contractor you’re busy, and you don’t want to spend your free time dealing with a poor accountant. Chasing late filings, dealing with confusing communication or paying for a substandard service shouldn’t be something you’re having [...]