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]
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.
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 it comes to paying dividends to shareholders, the first thing a company's directors should do is to check how much profit is available to be distributed. But what happens if you have overpaid dividends? … [more]
If you are caught by the off-payroll IR35 rules, you may decide that there is no point keeping your limited company active. However, this isn't necessarily the case, as a leading accountant explains. … [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]