Many contractors travel from home to a temporary workplace. You should be aware of the 24 month rule which determines whether or not you can legitimately claim any travel costs. Here, we explain how the rule operates in practice.
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Is work clothing an allowable limited company expense?
Limited company owners cannot offset the cost of standard work clothes against tax, although there are some interesting exceptions. Here we look at how HMRC treats clothing expenses. … [more]
Atholl House (Kaye Adams) IR35 case – Q&A with IR35 expert
After 9-years of trying, HMRC have been told by the courts, yet again, that they were wrong to claim that Kaye Adams of Atholl House Productions Limited was caught by IR35 whilst working on engagements with the BBC. … [more]
IT contractors and the High Income Child Benefit Charge – how does it work?
Families where one parent earns £50,000 or more are not entitled to receive the full level of child benefit. How does this tax work, how do you pay it, and why is it so controversial? … [more]
What difference (if any) will the Jan 2024 employees’ NI cut make to contractors?
The Chancellor's January 2024 NI cut was the headline-grabbing measure from last week's Autumn Statement. But what impact will the change have on contractors? … [more]
Claiming phone, mobile and broadband expenses via your limited company
While working as a contractor, you may run up a number of business-related phone and broadband expenses. So, how do you ensure that these expenses remain tax-deductible for your company and free of additional personal tax charges at year-end? … [more]
Contractor accountants – fees comparison table – updated for 2023
While you shouldn't decide who to hire as your contractor accountant based solely on price — after all, you get what you pay for — it's important to check that what you'll be charged is fair. … [more]
Can I offset the cost of my smartphone (or smartwatch) against Corporation Tax?
Almost everyone has a smartphone these days - typically using them for both personal and business purposes. With this in mind, can you legitimately claim the costs of smart devices against your limited company's tax bill? … [more]
What does the IR35 Offset fix mean for the contracting market?
In the Autumn Statement, the government confirmed that it will legislate to fix the 'IR35 Offset' issue - to prevent cases of double taxation when HMRC successfully overturns an employment status decision. We asked an IR35 compliance expert to … [more]
Autumn Statement 2023 – what are the main points for contractors?
With most measures 'leaked' beforehand, today's Statement promised an NI cut for workers and the self employed, plus a pledge to make the full expensing relief capital allowances permanent. … [more]
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