Agency opt out from employment regulations
Agency opt out from employment regulations All contractors who do any of their work though an agency will be asked to make a choice on whether to Opt Out from Employment Regulations. Some contractors will automatically Opt Out, but ideally it’s worth taking some time to think this through to ensure that this is the […]
The new HMRC guide on tax avoidance schemes
The new HMRC guide on tax avoidance schemes The majority of Limited Company contractors will generally steer clear of avoiding tax for the simple reason that it just seems safer to do so. However, a few may be attracted by the idea of saving large amounts of tax in a seemingly ‘safe’ way and may […]
Money Laundering Regulations
Money Laundering Regulations When we sign up a client we have to get photo ID and proof of address – why? The term money laundering describes the practice of exchanging criminally gained money or assets for ‘clean’ money or assets. This also includes money which is used to finance terrorist activity, regardless of how the […]
HMRC and tax codes
HMRC and tax codes All contractors will receive a ‘PAYE Coding Notice’ from HMRC at some point which states your current tax code. This code informs employers and pension providers how much tax free income you’re allowed which enables them to calculate how much tax to deduct from your gross income. For Limited Company contractors […]
Sick pay, maternity pay and paternity pay
Sick pay, maternity pay and paternity pay What can you claim? How long do you have to work for your company before you’re entitled to claim, and what are the alternatives if you’ve not worked long enough? As a Limited Company contractor, if you fall ill and are unable to work the responsibility lies with […]
Getting ready for the end of the tax year – 5 things to think about
Getting ready for the end of the tax year Contractors naturally spend most of their time either working hard for income, marketing and networking to win the next piece of business. After all, ensuring the business keeps rolling in is what keeps the money coming in! However, as a result, the tasks of doing accounts […]
The cost of late tax payments and late filing a self assessment tax return
The cost of late tax payments and late filing a Self Assessment Tax Return Many contractors will be relieved that they have filed their 2011-12 Self-Assessment Tax Returns before the final deadline date of 31 January 2013. Others may be in the position of not having filed their return within this time and they will […]
Working in the UK for non-UK contractors
Working in the UK for non-UK contractors The UK can offer attractive opportunities for contractors who are non-UK and non-EU citizens. The first step towards these opportunities is to get a visa giving the contractor the right to work in the UK. Without a valid visa a contractor can be removed from the UK, may […]
Employment regulations and AWR?
Employment regulations and AWR? I get confused between Employment regulations and AWR (Agency workers directive). What are the key points about the Employment regulations and why do agencies want me to opt out? Should I opt out? Is this the same set of rights I may be entitled to under AWR? Employment Regulations The […]
Personal Service Company – Tax returns
Personal Service Company – Tax returns Answering the question about PSC (personal service companies) when I complete my personal tax return. Do I have an IR35 issue when I tick this box as a “yes”. Is it anything to worry about? Or is it just a simple “yes” answer? What is the definition of a […]