• Summer Budget: what contractors should know

    Jul 23, 2015
    Although Corporation Tax rates will be lowered, there are other areas of the Summer Budget that may cause headaches for contractors.
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  • David Cameron pledges tax cuts in Queen’s Speech

    May 27, 2015
    In this year's Queen’s Speech, Prime Minister David Cameron pledged to focus on cutting taxes for millions of people across the UK.
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  • Business Entity Tests scrapped for contractors 

    May 15, 2015
    As of 6 April 2015, HM Revenue and Customs (HMRC) has scrapped Business Entity Tests (BETs) and example scenarios, which were used in the public sector to assess if a contractor is outside the scope of IR35.
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  • What’s in a name? Limited company naming rules updated

    Mar 11, 2015
    New limited company naming rules came into effect on 31 January 2015, relaxing restrictions for businesses owners. These changes are in line with the UK Government’s Red Tape Challenge, an initiative to support small businesses. We unpack what this update means for you.
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  • Face-to-face or online accounting: Which suits you most?

    Mar 10, 2015
    Whether you’re more comfortable checking your tax info online from your corner coffee shop or prefer a face-to-face meeting with a dedicated accountant, chances are you’re looking for an option that fits seamlessly into your workflow.
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  • A guide to issuing shares in your limited company

    Feb 24, 2015
    When you decide to start you own business, you can choose to work as a contractor or set up a private limited company. If you decide on a limited company, you’ll need to appoint shareholders and directors, decide how many shares to allocate, and how much share capital to put into the company.
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  • Autumn Statement 2014: Expert analysis

    Dec 03, 2014
    Chancellor George Osborne gave his much-anticipated Autumn Statement earlier. Our Accounting team have unpacked the contents of Osborne’s red briefcase to explain how the speech affects you over the course of the next year.
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  • If you missed the tax return deadline, here’s how to avoid the £100 late-filing penalty

    Nov 28, 2014
    The deadline for filing your 2013/2014 paper tax return was 31 October 2014; if you send in a paper return now, you’ll be subjected to an immediate £100 penalty. The only way to avoid this penalty is to submit your tax return online before the 31 January 2015 electronic filing deadline.
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  • Self Assessment tax deadline: Everything you need to know

    Oct 27, 2014
    If you’re registered for Self Assessment, you should have received a letter from HMRC in April or May reminding you to submit your Self Assessment tax return by the end of October 2014. The 31 October deadline is for paper tax return submissions only and not for online submissions. Even if you don’t need to pay any tax, you should still send in a tax return.
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  • Main residence and CGT changes for April 2015

    Oct 14, 2014
    In April 2015, CGT changes to the main residence rules are likely to come into force that could affect second home owners. If you own more than one home, what do you need to know?
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  • 9 steps to deal with late payments (legally)

    Sep 04, 2014
    If you're self-employed - securing contracts and invoicing clients yourself - it’s vital that you have a solid system in place to deal with late payments and non-payments. Here’s a quick nine-step guide to manage your payments so that your cash flow doesn’t suffer. The methods we suggest are, of course, legal.
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  • Don’t let your tax return get in the way of your business

    Aug 05, 2014
    If you run your own company or work as an independent contractor, you’re no doubt acutely aware of the time and effort it takes to retain clients, win new clients and ensure that your business runs smoothly and compliantly. That's why it's vital to leave the time-sapping paperwork to the experts.
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  • At what point should you hire an accountant?

    Aug 04, 2014
    Running a small business is not without its challenges. What starts off as a one-person show soon becomes a complex operation when you introduce employees, finances and the government into the mix. Out of all of these, managing your company’s finances can be one of the more time-consuming endeavours.
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  • 8 ways to slice your everyday business expenses

    Jul 21, 2014
    If you run your own limited company or operate as an independent contractor, you’ll want to check out these eight ways to reduce expenses and increase profit margins.
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  • Contractors: It’s time to enter the cloud

    Jul 17, 2014
    Accounting has changed a lot since the 90s. While cloud computing may have become fairly commonplace, contractors are increasingly adopting cloud accounting as a smart way to streamline business efficiency.
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  • Contractors: how to deal with interest on overdue invoices

    Jul 03, 2014
    As a contractor (or limited company owner), you might have experienced the frustration and stress of not having your invoices paid on time. Fortunately, the Late Payment of Commercial Debts (Interest) Act gives you the right to claim interest on overdue payments.
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  • Six common accounting mistakes contractors make

    Jun 25, 2014
    If you work as an independent contractor or run your own limited company, you're no doubt aware of how difficult it is to do the work that’s required of you, let alone keep a handle on your company’s finances. Here are six common accounting mistakes many contractors make – and how you can avoid them.
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  • Dormant companies can attract £1000 late filing penalties

    Jun 23, 2014
    Many people are under the impression that dormant companies can be forgotten about, that they need not file a Corporate Tax Return, and that they will incur no penalties for failure to submit one. This is simply not true, and you should take care to avoid incurring unnecessary penalties.
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  • Six reasons to set up a limited company

    Jun 06, 2014
    A limited company involves more financial and administrative responsibilities than those of a sole trader, but there are also many advantages, particularly if you partner with a reputable accounting firm. Here’s why it pays to set up your own limited liability company.
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  • Three million Brits now out of tax net

    Apr 23, 2014
    The rise of the Personal Tax Allowance to £10,000 in 2014 will take as many as three million people out of the tax net, and will help even more UK families next year when it is increased again to £10,500.
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