Switching Contractor Accountants
Every successful relationship is built on trust. This is particularly important when forming professional relationships, like with an accountant. However, there may be times, for one reason or another, when that trust is no longer there, and you feel the [...]
Latest legislation 2018: How will it impact you?
The world of contracting is ever changing. This week’s article discusses some of the changes to legislation that are occurring that contractors or owners of limited companies need to be aware of. Drop in dividend tax allowance A large proportion [...]
Pensions and Tax Advice for Contractors
If you choose, you can retire at 55. Sounds very tempting, doesn’t it? What would you do with your retirement? Spend it travelling? Maybe you would like to learn a new skill? There are so many options. However, in order [...]
Life as an IT Contractor
Are you dissatisfied with your current role? Do you find yourself sitting and looking at your screen dreaming of what it would be like to ‘go it alone’ and become a contractor? If this sounds like you – dream no [...]
Ask an Expert: What You Need to Know About Expenses
When we start working with a contractor, one of the first questions we get asked, is, “As a contractor working through my own limited company, can I claim for business expenses?" followed by, “What expenses can I claim for?” You’ll [...]
Being efficient with your tax
Contractors are known for being hard workers. Thus, you will want to make sure that you don’t have to pay more tax than you legitimately have to. By engaging the services of an experienced contractor accountant who can help [...]
IR35 Advice for Contractors
If you are already a contractor or are planning on becoming one soon, as well as understanding the UK tax system, you must also acquaint yourself with IR35, or the ‘Intermediaries’ Legislation’, or ‘off-payroll working’ as it is sometimes referred [...]
Recent tax changes for IT Contractors
The IT contracting sector is booming at the moment, particularly in the area of Cybersecurity and GDPR. If you are looking to enter into the IT contractor market for the first time or are looking to re-enter it following a [...]
5 Mistakes People Make When Doing Their Own VAT Return
Completing your VAT Return can be a stressful task if you leave it to the last minute, or don’t keep proper records of your income and expenses. Here at SG Accounting, we have seen many VAT Returns, and here [...]
Demystifying Corporation Tax
As a contractor working through your own limited company, you are required to pay a range of taxes. This article is designed to help reduce the confusion that can surround Corporation Tax. We explain who has to pay it, how [...]
Contracting in Cybersecurity
ContractorUK lists cybersecurity contractors as one of the most sought-after IT specialists. This statement is backed-up by a report that was released in December 2017 by The Recruitment & Employment Confederation (REC). The report states that the demand for [...]
5 Common Mistakes Found on Self Assessment Tax Returns
Tax return time is a stressful period for most of us. Have I got all the records I need? What if I forget to include something vital? Most crucially of all, have I put enough money away to pay my bill? [...]
4 Things Not to Say to Your Accountant
When hiring an accountant, there are standard questions to ask. How much are fees, can they manage your tax preparations and filings, is your data safe, and what is expected from you in return (i.e. do you need to [...]
Detailed Autumn Budget Report 2017
This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business. The 2017 Autumn [...]
Autumn Budget 2017
Philip Hammond delivered his Budget today after much speculation. All in all it was a pretty underwhelming budget speech and “red book”. All those rumours of immediate roll out of the public sector IR35 reforms to the private sector, reduction [...]
Inheritance tax receipts continue to rise
Latest figures from HMRC reveal a 22% increase in inheritance tax (IHT) receipts in the 2015/16 tax year. This is a significant uplift from the average 12% annual increases that have been experienced since 2010.
Dealing with distractions
Research suggests that when we are distracted from a piece of work it takes between 10 and 15 minutes to get back to that point of focus afterwards.
Spring Budget 2017
The Chancellor Philip Hammond has delivered his first Budget speech and outlined plans for what he called ‘a fair, stable and competitive tax system’.
Are you contracting in the public sector?
As you may have read in our Autumn Statement commentary, changes in April 2017 will mean that contractors working in the public sector will no longer have a say in their IR35 status. Instead the responsibility to determine IR35 [...]
Autumn Statement 2016 More Information
Chancellor pledges post-Brexit economy ‘that works for everyone’ The new Chancellor of the Exchequer, Philip Hammond, acknowledged ‘sharp challenges ahead’ for the economy as he presented his first major fiscal statement, exactly five months after the UK’s historic vote to [...]