CEST vs. Brookson Legal Services IR35 Audit
When the new IR35 Private Sector Legislation is rolled out in April 2020, we know that end hirers will need to demonstrate ‘Reasonable Care’ when determining the status of their off-payroll workers. Despite this ‘reasonable care’ has never been defined and it is questionable if HMRC’s Check Employment Status for Tax (CEST) tool meets the […]
Flat Rate Scheme
When first starting out in contracting there are a number of things to consider, one of which is how you account for VAT and whether to use the Flat Rate VAT Scheme (FRS). But what actually is FRS, what are your options and how does it ultimately affect your take home pay? The following guide […]
Introducing VAT
Introducing VAT for contractors Most Limited Company contractors register their company for VAT purposes and benefit financially from doing so. There are different types of VAT registration to consider, so make sure to discuss your accounting options with your Limited Company contractor accountant before applying for VAT registration. The following VAT guide is written to […]
IR35 Status and HMRC Compliance Checks
WHO IS RESPONSIBLE FOR EMPLOYMENT STATUS? If the end-client is a public-sector body then the responsibility for deciding the IR35 status of an assignment falls with the organisation responsible for paying the intermediary (usually the public-sector organisation or the agency), in line with the off-payroll rules introduced in April 2017. Whilst there were no immediate […]
MOO’ve over CEST Brookson are Here to Help
It is fair to say that the changes to the IR35 rules in the Public sector in 2017 shook the contracting world. In an attempt to limit the aftershock that followed, HMRC offered a solution: a tool designed to help hirers reach an accurate outcome as to whether IR35 applies to an engagement or not. […]
Brookson Legal supports client through IR35 investigation
IR35 legislation can be incredibly complex. That’s why here at Brookson Legal Services we feel that nobody should have to tackle HMRC on their own when faced with an enquiry into their company’s affairs. Coupled with the experience and knowledge of the Brookson tax advisors, we can offer advice and support to Limited Company Contractors […]
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 […]
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 […]
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 […]
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 […]