Can I get a mortgage as a contractor?
Can I get a mortgage as a contractor? As a contractor, one of the most commonly asked questions is whether or not it is possible to secure a mortgage. Quite understandably, many contractors are unsure as to what their position is, given the fact that they’re not in permanent employment. It’s common knowledge that it’s […]
Claiming Christmas expenses through your Limited Company
Claiming Christmas expenses through your Limited Company Can I claim Christmas party expenses through my Limited Company? The interest-free sofa adverts have started and the supermarkets are full of advent calendars, yes you’ve guessed it, it’s now officially Christmas. If you’re currently contracting within a corporate environment the annual Christmas party is probably a hot […]
Understanding the Self-Assessment Tax Return
Understanding the Self-Assessment Tax Return We don’t like to be a scrooge here at Intouch, but after the Christmas festivities have ended it’ll be time for you to submit your Self-Assessment Tax Return (SATR). After all the Christmas chocolates have gone and the New Year celebrations seem like a distant memory, you will need to take […]
Contracting the key to a successful and family-friendly career
Contracting: the key to a successful and family-friendly career Over the last month, I have been exploring the subject of women in contracting in conjunction with IPSE, the Association of Independent Professionals and the Self Employed (formerly PCG). The four-part series ran on the IPSE website and, I hope, has given a confidence boost to […]
Supervision, direction or control (SDC)
Supervision, direction or control (SDC) Announcements in the Summer Budget 2015 shook the contracting world, with particular focus on supervision, direction or control (SDC). It’s now key to the proposals used in the consultation to revise Travel and Subsistence and in the discussion document on revisions to IR35. SDC is clearly becoming the key focus […]
Flat Rate VAT Scheme for contractors explained
Flat Rate VAT Scheme for contractors explained Once a business reaches a turnover of £82,000 within a twelve month period, it is a legal requirement to register for VAT and subsequently, charge VAT (20%). Businesses who are registered for VAT must charge this to their clients and customers (most commonly at a rate of 20% […]
Thinking of contracting or freelancing? Which trading model is right for you?
Limited, Umbrella or Sole Trader? Are you thinking about making the move away from permanent employment to set up as a contractor? Sole Trader, an Umbrella or Limited Company? What’s the difference and which is best for you? Read this blog to get to know your choices, then download our comprehensive guide to help you […]
Claiming mileage as an independent contractor
Claiming mileage as an independent contractor As a contractor, you’ll undoubtedly already be claiming expenses against your tax bill. However, one of the most common areas of confusion is that of mileage. Many contractors may wonder whether they would be better off purchasing a company car (when trading as a Limited Company) or whether claiming […]
How often can a Limited Company director draw dividends?
Drawing Dividends Contractors are increasingly turning to forming their own Limited Companies rather than operating as sole traders or under Umbrella companies. This is in part due to the tax efficiencies available as well as the additional security it offers. Why go Limited? Whilst the ‘sole trader vs Umbrella company vs Limited Company’ debate […]
Supervision direction or control
One of the more controversial aspects of the Summer Budget 2015 was the focus on Supervision, Direction or Control (SDC) – three words every contractor will need to be fully aware of. They are already significant and currently used by HMRC within the agency rules that were revised in April 2014 and became effective in […]