One of the biggest sources of confusion for new umbrella company users lies in the way contractor pay rates are quoted. Does your rate include ’employment costs’, and if so, what does this mean? And are some unscrupulous providers misleading over the so-called ‘inside R35 rate’?
[more]
Are you a Professional Contractor or Freelancer?
Very few people 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.
Latest Articles
How to avoid HMRC penalties and fines at self assessment time
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]
Director’s loans – how they work, and the tax implications
There may be a time when you need to borrow money from your own limited company - perhaps to finance a house deposit, or for a major purchase. Here we look at how director's loans are treated, and how you could face a hefty tax bill if you don't plan … [more]
Stop the Off-Payroll (IR35) Tax – #EDM13 – Has your MP signed yet?
An Early Day Motion (EDM) calling for the suspension of the April 2020 off-payroll implementation, and a meaningful review of the IR35 legislation is gaining momentum. With the help of contractors willing to take the time to get in touch with their … [more]
Off-Payroll – can HMRC investigate past contracts retrospectively?
With the private sector off-payroll changes set to go ahead in April 2020, some 'outside IR35' contractors may be forced to work 'inside IR35' if their clients are reluctant to take on the potential risks of making incorrect employment status … [more]
‘IR35 review’ announced, but April 2020 off-payroll still going ahead
The Treasury has announced a review into the 'off payroll' (IR35) rules, seemingly aimed at making the private sector rollout as smooth as possible, rather than as a precursor to making much-needed changes to the underlying legislation. … [more]
Dividends – what are they, and how are they taxed?
The retained profits generated by UK companies of all sizes can be distributed to shareholders. For professional workers (such as contractors, consultants, and freelancers), dividends make up the bulk of income drawn down from small limited … [more]
Limited company or PAYE umbrella – comparison table for contractors
Almost all contractors who provide professional services to clients trade via their own limited companies, or join PAYE umbrella schemes. Here we've compiled a table to help compare the pros and cons of each structure. … [more]
Government ‘must honour pre-election IR35 review promise’
A leading contractor campaign group has called on the new Conservative Government to honour its pre-election pledge to review the IR35 rules, and postpone the planned April 2020 'off payroll' private sector rollout in the meantime. … [more]
IR35 private sector changes – Essential FAQs
The April 2020 off-payroll changes to the private sector represent a massive challenge to the contracting industry. Here we have included some of the most common FAQs we've been asked about the IR35 reforms. … [more]
Follow Us!