Keeping accurate accounting records is an essential task for every successful contractor. Not only can you ensure that you stay on the right side of the taxman, but you should also be able to see exactly what your financial situation is at any moment in time.
It is not unusual for contractors to take time out, either for an extended holiday, to carry out a period of research and training, or if new work is hard to find. You may even have decided to take a permanent job. So, what should you do with your limited company if you do decide […]
Responding to a parliamentary written question, the Treasury has revealed that the direct tax yield from IR35 investigations remains negligible, but is there more to the figures than meets the eye?
New Government rules will require recruitment agencies to provide more information than ever to HMRC about the contractors on their books, including how much they’re paid. We asked an expert what this means in practice, and if there is a link between the new rules and IR35.
HMRC has announced its decision to withdraw the much-criticised IR35 Business Entity Tests (BETs) from April 2015, having established that they have been ‘used very little’, and haven’t fulfilled their intended purpose.
HMRC has offered users of ‘contractor loan schemes’ a chance to settle their outstanding tax liabilities on ‘favourable’ terms. The average contractor is thought to have avoided £11,000 for each year they took part.
A specialist accountancy firm has reported a surge in demand for IR35 contract reviews by public sector clients following news that dozens of NHS ‘off payroll’ executives could be investigated for failing to provide tax assurances to their departments.
Following publication of HMRC’s new IR35 guide, we asked an industry expert how the guidance compares to the old FAQs, and how specific IR35 issues have been addressed.
In our latest news summary, RBS has imposed a 10% rate cut on the majority of its contract workforce, and recruitment agencies may be inadvertently falling foul of the Managed Service Company legislation, whilst attempting to comply with the new false self-employment rules.
As a limited company director, you have a number of legal and financial responsibilities. We look at what these duties are, and why it is essential for directors to meet their statutory obligations.