Flat Rate Scheme: What to do if you are on the wrong trade sector
The VAT Flat Rate Scheme was introduced to simplify the process of calculating VAT returns. The premise of the scheme is that you pay a fixed rate of VAT based on which trade sector your business falls into. However, choosing [...]
Protect yourself from HMRC scammers
Cybercriminals are using increasingly sophisticated methods to scam people into handing over their personal and bank details. According to the Citizens Advice Bureau around four million people are scammed each year in the UK. The scary thing is, this [...]
Fuel efficient cars for contractors
As a contractor who operates through a limited company and who uses your own vehicle to travel to your clients’ office, you should be used to claiming for mileage expenses. With the fluctuating fuel costs, you may have noticed that [...]
Contracting abroad – what to consider
If you are a contractor whose skills are in high-demand, you may at some point in your contracting career find yourself with an offer to work abroad.Not only could this be fantastic for your career, it also offers you the [...]
Don’t get caught out by IR35 in 2018
Upon deciding to become an independent contractor, one of the first things you should acquaint yourself with is the Intermediaries Legislation or IR35 as it is commonly referred to. IR35 is a complex piece of legislation. To help you from [...]
Productivity apps for contractors
It seems like the term ‘productivity’ is the buzzword of the moment. Everyone wants to be more productive with their time. This led us to ask, what is productivity and why is it so important? The technical definition of [...]
5 top tips to organise your company costs and expenses
Working as a contractor may be new to you, or it may be something that you have been doing for a while. Whatever stage of the contractor life-cycle you're in, there are some things that are good to be reminded [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Maximising tax relief for two homes
The UK tax regime provides an important relief from the capital gains tax charge (CGT) on the gains made by owner-occupiers on the sale of their private homes. This is known as Principal Private Residence relief (PPR). The general principle [...]