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 […]
IR35 test: Supervision, Direction or Control
There are more ways to assess IR35 than skin a cat Regular followers of the Intouch blog will by now be familiar with some of the more controversial proposals to come out of the Summer Budget. In particular, the suggested reforms aiming to improve compliance to the Intermediaries Legislation (IR35) have made people rather hot […]
HMRC Penalties: a carrot or a stick?
HMRC Penalties In a recent document inviting views and comments by 11 May 2015, the Revenue ask taxpayers and agents what they think about ideas they are having on potential changes to the penalty regime, introduced under the HMRC Powers Review 2005-2012. As HMRC become more digitally savvy, in an attempt to help taxpayers get […]
VAT! Could you be paying too much?
Could you be paying too much? The benefits and burdens for contractors of the flat rate VAT scheme Could you be paying too much VAT? Welcome to another edition of our regular ebriefs, designed to keep you up to date with issues affecting contractors and freelancers – helping you to make the right decisions, every […]
Agency workers regulations – could you lose out?
AWR – could you lose out? By now you’ve probably heard the abbreviations AWD or AWR, which are often used interchangeably – AWD being the Agency Workers Directive and AWR, the Agency Workers Regulations. But, do you know what it’s all about and, most importantly, do you know if it affects you and, if so, […]
Beginner’s guide to Limited Company tax
Beginner’s Guide to Limited Company Tax If you are thinking about becoming a limited company contractor or you already run your own company, you will need to consider the different taxes you’ll encounter. Limited Company tax seems complex, but here at Intouch Accounting, our personal online accounting advice for contractors and freelancers can help you […]
Embrace IR35! Still set up a Limited Company to enjoy the other benefits
Embrace IR35 Embrace IR35! Still set up a Limited Company to enjoy the other benefits. Is being inside IR35 legislation really the end of the road in going Limited? We think not. It’s not unusual for a contractor to fear IR35 regulations or regard them as some form of penalty for doing something wrong. However, […]
Taking holiday as a contractor
Taking holiday as a contractor While most Limited Company contractors are happy to be working as much as possible, we all need a bit of time off during the year. Taking a break to simply re-charge or to spend time with family is an important factor in maintaining a healthy work/life balance. This can be […]
Flat Rate Scheme for VAT – matching your VAT rate to your contractor activities
Flat Rate Scheme for VAT The Flat Rate Scheme (FRS) for VAT can be a very convenient option for smaller businesses, which is why many Limited Company contractors choose this method. The FRS makes it much easier to work out how much VAT is payable and it simplifies administration. However, if you’re currently looking at […]
Penalties – company accounts and Corporation Tax
Penalties – company accounts and Corporation Tax Accountants often talk about penalties and interest being incurred if documents are filed late, but we find that people rarely know the actual facts and figures that can be involved. This is quite a large subject, so in this blog we’re concentrating purely on a general overview in […]