We have summarised the important bits from Alistair Darling’s pre budget report yesterday for contractors in the UK. Read the details of the Pre Budget Summary (2010/2011) here (63.08 kb PDF).

HM Revenue and Customs (HMRC) have made changes to their bank account details that contractors and Limited Companies use to make their VAT payments into. These changes are effective from 8 July 2009. If you make your VAT payment via Internet or Telephone banking, you will need to use the new... [More]

The government’s plan to increase the VAT rate back to its original 17.5% is likely to play out as planned. For contractors in the UK, this means they (or their Limited Companies), will have to revert back to charging their clients 17.5% VAT instead of the current discounted rate of 15... [More]

1st Contact highlights the importance to keep taxpayers informed about tax return guidelines and tax developments. Here is some basic and useful information that you need to know about tax and taxation, tax forms and filing tax returns.  If you are an employee, your employer is required ... [More]

Every day, 1st Contact helps local businesses with their finance, tax and accounting issues. We understand better than anyone how the current economic downturn is really affecting the business community. We are running a series of news articles focusing on the issues that influence smaller compani... [More]