Contracting Consulting Freelancing Made Easy

Following the end of the tax year, contractors will be aware that is looming and submissions must be made by 19th May, and experts have released guidance for contractors in the UK that this deadline applies to. It is essential for contractors to first establish whether they are a service company, and if so they [...]

HMRC have confirmed that on May 7th 2012 they will release a ‘business entity test’ and guidance notes in a bid to assist contractors to assess whether they are caught by the IR35 legislation which was introduced in 2000. At an IR35 forum which took place on April 26th, a HMRC spokesperson confirmed that the [...]

Contractors who dodge the tax man will have had a scare recently when an IT contractor who avoided paying taxes to HMRC was recently caught out. The man had hidden almost £2 million that he had earned working as an IT contractor for clients in the banking centre in the capital city of London, and [...]

Gone are the days when you used to send your paper documents to file your VAT returns, as HMRC are now making online submissions a necessity. For all submissions after 1st April this year, HMRC have made it compulsory to sign up to online VAT filing and have said that paper submissions will no longer [...]

In the Budget, the government announced plans to prevent excessive tax relief on earned income, however advisers have been warning that this may be devastating for many self-employed contractors and freelancers in the UK. As of April next year, any person wishing to reclaim over £50k in tax relief for a single tax year will [...]

The Small Business Action Report was recently published which highlighted that many small businesses are wasting money.  How? On tax payments that they don’t need to be paying. In fact billions each year are being wasted.  Small firms can make savings by utilising allowances, tax credits and support schemes.  But many are ignoring this. The [...]

HMRC have recently announced plans to review the system of Business Record Checks and have postponed the scheme for the time being, in the face of numerous complaints from businesses who felt the system was too strict and stifling. The idea behind business record checks was that HMRC would be allowed to make random checks [...]

Today is the government’s official deadline for filing your self assessment tax return if you are self employed or a contractor working through your own limited company. With repeated warnings sent out to contractors throughout the year reminding them of the paper return deadline in October and then the January 31st deadline today, there should [...]

One of the most important legal rules for contractors and freelance worker is IR35, which affects the tax conditions for every contractor. This can be difficult to understand so here is a very basic explanation to help you to know where you stand. IR35 is a rule brought in my the government to help bring [...]

If you are a contractor, freelancer or consultant the chances are you are aware that January 31st is the deadline for your self-assessment.  A lot of freelancers and contractors choose to do their books and accounts themselves but it is important that you are aware of a few things. It is vital that you complete [...]