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 [...]
Salary, dividends or both? How to effectively pay yourself as a Limited Company contractor
One of the financial benefits of being a Limited Company contractor is having the ability to choose how to pay yourself in the most tax efficient way. The most common way of doing so is by using a combination [...]
New to contracting? Top tips for staying on your path to success
Congratulations on your new career in contracting! Whilst it’s an exciting time there’s plenty to get your head around, especially if this is your first time in self-employment.But fear not! The experts here at SG Accounting have put together this [...]
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 [...]
Should you refuse IR35 contracts?
As the IR35 changes draw ever closer, one question many contractors will be asking themselves is, ‘should I refuse IR35 contracts?’ But how do you know if that’s the right decision? In this blog we explore the different circumstances [...]
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 [...]
Considering a career in contracting? Here’s everything you need to know about IR35
Stepping out into the unknown world of contracting can be daunting, especially when there’s so much to get your head around. From leaving the security that permanent employment provided to getting everything ready, there’s plenty of things a contractor needs [...]
Economy rebuild measures announced
The government today announced what they refer to as their next step in rebuilding the economy. Their focus is very much around preventing unemployment whilst gradually stopping the furlough scheme, boosting the hospitality sector and kick starting the housing [...]
Your guide to Contractor Mortgages
Making the decision to purchase a property, whether that’s your first home, or if you’re planning on moving up the property ladder, is a huge and exciting step. It can be made more complicated when you throw into the [...]
How can I carry out a credit check on my customers?
Many people love the idea of running their own business but are concerned about the stability of self-employment. In theory, it should be simple; you do the work, you invoice your customer and they pay you. But there may [...]
Tax planning for 2020/21
For the 2020/2021 tax year, tax allowances and rate bands have, in the main, remained the same. In this article, we demonstrate what that means to contractors in real terms, and offer our advice for trading as tax-efficiently as possible.3 [...]
Coronavirus business support – FAQ
With Covid-19 (Coronavirus) having a massive impact on businesses across the UK, it’s understandable that our Limited Company contractors are keen to understand the business support measures that have been announced by the Government.We’ve created a guide to all of [...]
Can I furlough myself as a Limited Company Contractor?
Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There [...]
Coronavirus business support measures explained
This guide covers all of the business support measures announced by Rishi Sunak in March and is being updated as and when new initiatives are launched or changes are made to existing ones. Please bookmark this page to keep [...]
Sunak delivers Budget to meet ‘challenging times’
Sunak delivers Budget to meet ‘challenging times’Chancellor Rishi Sunak delivered his first Budget, and the first since the UK’s departure from the European Union, against the backdrop of the coronavirus outbreak.The Chancellor announced a £30 billion stimulus package to support [...]
How to challenge a client’s IR35 determination
In 2017 when changes to the Intermediaries Legislation (IR35) were rolled out in the public sector, meaning end-clients were responsible for determining the IR35 status of limited company contractors, some employers took the decision to place all contractors inside IR35. [...]