How reliable is the HMRC CEST Tool and what are the alternatives?
As we approach the introduction of IR35 in the Private Sector in April 2021, the question ‘How reliable is HMRC’s CEST Tool?’ is what everyone is asking. As agencies and end hirers will soon be responsible for unpaid taxes when an incorrect determination of an off payroll workers tax status is reached, it is important […]
Are you ready for April 2020: The impact IR35 will have on Recruitment Agencies
In 2018’s Autumn Budget the Government announced changes to IR35 in the Private Sector. The change mainly implicates the shift in the responsibility in determining IR35 status from the individual contractor to the agency or end-hirer. The changes will be introduced from April 2020. Historically, independent contractors have been responsible for evaluating their own IR35 […]
How does previous employment impact your IR35 status?
In seeking to benefit from preferential tax rates, individuals began providing services through their own limited companies and, rather than receiving a salary subject to PAYE tax and National Insurance deductions, funds would be drawn from the limited company in the form of dividends. To combat the issue of individuals receiving tax relief that they […]
Taxation
Taxation doesn’t have to be intimidating. Get the balance right between the various types of income and related tax, and you can achieve that goal of tax efficiency that sent you down the limited company route in the first place. VAT registration is mandatory for companies who have made taxable sales in the last 12 […]
IR35
IR35 applies to all business sectors and specialisms and your status can vary from contract to contract, depending on the nature of the work and details of the contract. So what do you need to know? IR35 is a tax legislation created to fight tax avoidance by workers and contractors who supply their services to […]
All you need to know about submitting your Self Assessment tax return
Many people don’t like to hear the ‘C’ word mentioned until at least December. However, if you’re self-employed, now’s the time to start thinking about the festive period, particularly with regards to submitting your Self-Assessment tax return (SATR). Here’s all you need to know: What is a SATR? Self Assessment tax return or SATR […]
IR35: It’s controversial, it keeps changing, but it’s here to stay…
Our specialist IR35 accountants have made this infographic which takes you through the basics of IR35 legislation. For more IR35 information download the free IR35 guide.
What you need to know about IR35 regulations
Familiarising yourself with numerous legislation is just one of the many tasks involved in setting up your own business. But for contractors, specifically, IR35 legislation is crucial to get to grips with. What is IR35? IR35 is a type of tax legislation put in place to prevent contractors from limiting their tax liabilities by […]
Am I entitled to holiday and sick pay as a Limited Company contractor?
Holiday and sick pay – what is your entitlement? Taking time off work, whether it’s planned or otherwise is rarely an issue for permanent staff, as their pay is usually undisrupted as it’s covered by the terms of their employment. So what happens when you’re a contractor and you’re not covered by the same terms? […]
Changes to the Flat Rate VAT Scheme
As a Limited Company contractor you will no doubt be keen to understand the changes to the Flat Rate VAT Scheme coming on 1 April 2017. Maybe you’ve heard conflicting opinions about whether you’d be better off staying in the scheme or going, and whether there’s any way to retain your existing category if you […]