Since 7th January 2013, rather than remaining a benefit paid to all regardless of wealth, families, where one parent earns £50,000 or more per year, are not entitled to receive the full level of child support. … [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.
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]
Around 1,500 GlaxoSmithKline contractors have been sent identical letters from HMRC, accusing them of being 'disguised employees' - and therefore subject to the IR35 rules. … [more]
If your contract work is caught by IR35, your tax bill will rise considerably. Here, we use our IR35 calculator to work out the financial impact on contractors earning between £250 and £1000 per day. … [more]
As a limited company owner, you may incur a variety of business expenses whilst undertaking your contract duties. Here, we look at how expenses are 'allowable' for tax purposes, and some common errors to avoid. … [more]
There will be occasions when you may wish to provide small gifts to employees, throw a staff function or even treat yourself as the director. … [more]
However you decide to work as a contractor – via your own company, or an umbrella – or if you’re a self-employed freelancer, you must keep your financial records safe for a number of years. How long depends on the type of tax. … [more]
Poor cash flow management has always been the number one reason why businesses of all size fail. Like other business owners, contractors can also suffer significant financial difficulties if a client fails to pay on time. … [more]
The IR35 'off-payroll' rules will be extended to the private sector from April 2020 onwards, directly affecting a large number of contractors. What exactly does this mean, and what can contractors and clients do to prepare in advance? … [more]
When end-clients determine the IR35 status of contractors in the private sector from April 2020 onwards, they are tasked with taking 'reasonable care' when making employment status decisions. … [more]