If you incur travel expenses between your home and a temporary client site, you should be aware of the 24 month rule which determines whether or not you can legitimately claim for such costs. Here, we ask an expert to explain how the rule operates in … [more]
First Timer or Veteran Contractor?
Very few contractors regret their decision to break with traditional employment and start out on their own. Our site provides all the information you'll need to operate a successful professional contracting business - whether you're thinking of taking the plunge, or if you're a seasoned pro.
In any form of business we all rely on technology to get the job done. If your daily contracting work routine revolves around “office, car, meeting, car, office”, your choice of gadgets can mean the difference between just succeeding and excelling. … [more]
You may have heard your accountant or bank manager talk about your “balance sheet” and “profit and loss account”. What do these terms mean, and what information can these documents provide you about your company? … [more]
If you submit your self assessment tax return late, fail to pay any tax you owe on time, or make errors in your submission, you could find yourself liable to a wide range of HMRC penalties. … [more]
Is your team a team by name only, or in practice? Here, Sue Coyne provides some useful advice to contractors in leadership roles seeking to provide inspiration to their teams. … [more]
Introduced in 2002, the Flat Rate VAT scheme was put in place to provide smaller businesses with a simpler way of calculating their VAT liabilities. Here, we look at how the scheme works, and explain how many contractor companies could pay less tax … [more]
Have you ever wondered whether it is worth including a covering letter when you submit your CV for a prospective contract position? … [more]
Many contractors ask which factors (written, or carried out in practice) are most important in determining the IR35 status of a contract. Although a combination of factors will determine whether or not a contractors is caught by IR35, some do carry … [more]
The basics of IR35 should be understood by everyone in the contracting community at a fundamental level, as the rules have such a profound impact on take home pay if you are caught. Here, an expert answers our questions on employment status - does … [more]
How are subscriptions to professional and trade organisations treated for tax purposes, and what determines whether or not your membership of a particular organisation is tax-deductible? … [more]