Michael Rose | Accountancy & Tax
From 1 April 2010, if you have an annual VAT exclusive turnover of £100,000 or more you will have to submit your VAT returns online and pay your VAT electronically. Also, if you register for VAT from 1 April 2010 onwards, you’ll have to file online from the start, whatever your turnover.
Darren Fell | Accountancy & Tax
If you have read our guide to the expenses freelancers can claim the following guide gives some in depth information on how to claim your business expenses.
Michael Rose | Accountancy & Tax
The Self Assessment online deadline is fast approaching – if you still need to do your Tax Return you must do it online by 31 January
If you’re using HMRC Online Services for the first time, you will have to register for an online account. You will then be sent an Activation Code within 7 days to activate your account.
Michael Rose | Accountancy & Tax, Starting Out
Setting up a Limited Company is one of the smartest way to get paid for your work. With a Ltd you get to define your brand, own everything you do, run your business in the most tax-efficient way and pitch for work you wouldn’t be able to get as a sole-trader.
Some people, usually the folks at Umbrella companies, will tell you that setting up a company is costly and complicated but with low-cost solutions out there it’s a no-brainer.
Paul Cleworth | Financial & Insurance
In conjunction with PCG, Wealth Matters have been running a number of Contractor Seminars this year. When it comes to investing they’ve found quite a few questions keep repeating themselves among the 250-strong contractors in the audience. Today Wealth Matters’ Director Paul Cleworth answers these questions for a wider contractor audience.
Master-moaner and freelance freedom-fighter Malvolio takes a look at Tax and Employment Benefit Trusts (an alternative to Umbrella Companies that promise up to 25% more in your pocket).
Are these tax schemes a good idea for freelancers and contractors looking to earn a little more? Are they good for the UK?
Michael Rose | Accountancy & Tax, News
The specialist freelancer and contractor-focused accountancy world is hotting up as Crunch continues to cause ripples in the sector.
It’s been a busy month for Crunch with the news that the all-in-one online accountancy service has received investment from Bebo co-founder Paul Birch and Skype chairman Michael van Swaaij. Combined with news of an award for [...]
Darren Fell | Accountancy & Tax, Guides
Got a great accountant but lousy software?
Or great software but an accountant who wants everything in Excel spreadsheets?
Crunch Managing Director Darren Fell explains why choosing an all in one accounting solution can save you a lot of time and hassle when it comes to your year-end.
Darren Fell covers the correct steps to setting up your accounting system.
Step 1: Find the good accountant Step 2: Make sure you like their software
Michael Rose | Accountancy & Tax, News
The PCG, the association that represents freelancers and contractors in the UK, has revealed the exact amount of money raised by the Government’s IR35 tax regulation rules.
Following a request under the Freedom of Information Act to HMRC, asking just how much tax revenue IR35 raises for the exchequer, PCG have found that between tax years 2002/03 and 2007/08, IR35 directly raised just £9.2 million. This equates to an average of around only £1.5 million per tax year – a tiny sum in Governmental terms.
Michael Rose | Accountancy & Tax, Resources
If you’ve read the tax overview and know what to expect this guide gives you a simple to understand guide to Self Assessment, National Insurance contributions, VAT, employing others (PAYE) as well as some of the help you can get in the form of Allowances, reliefs, incentives and Tax credits.
Essential reading if you’re starting out and struggling to understand tax and self-employment.
Charlie Bradburn | Financial & Insurance
The PCG is a non-profit organisation that fights the freelance corner by lobbying government for better tax and regulation and promoting fair and ethical behaviour among recruiters. It also provides a host of tools and knowledge to its members to help them handle tax and regulatory matters properly.
PCG insider Charlie Bradburn tells us why they could be your greatest ally if you were ever to suffer a tax investigation and how their help-line can help you feel more at ease when confronted by a letter from the HMRC.
Michael Rose | Accountancy & Tax, Resources
To help launch our new Resources section we’ve teamed up with Business Link and the HMRC: Over the next few months we’ll be offering the latest advice, guidance and short videos from the people who know.
If you’ve recently gone self-employed or are thinking about working for yourself this first PDF guide will give you an overview of initial questions you might be asking yourself when planning on starting a business.
Kasey Brunt | Accountancy & Tax
Small business owners working from home should make sure they are claiming tax relief, an accounting firm says.
Target Chartered Accountants says business owners who work from home can claim several tax benefits, including mortgage interest.
Kasey Brunt | Managing business, News
HM Revenue & Customs (HMRC) has released a series of online video guides to help businesses and start-ups understand their tax requirements.
The guides cover a variety of topics, including VAT, corporation tax and PAYE.
They also cover areas such as importing and exporting, keeping accurate records, and things to consider when employing other people.
Presenter Dan Snow [...]
Kasey Brunt | Accountancy & Tax
Tax burden hurts small business HIGH taxes are hitting UK small businesses hard, new research has found. About 16 per cent of small business’ outgoings is spent on tax, according to financial business information firm Creditsafe.
This means tax is the third biggest expense for most small businesses, freelancers and contractors, behind wages and investment in stock [...]
Lesley Furber | Employment Advice
For up to date details of Income Tax and NIC rates for Employees, Workers and Freelancers read this article.
Andy White | Lifestyle & Time out, Podcast
Part one of an interview with Steve Crouch of SRC Chartered Accountants. Steve answers questions on such things as salaries, dividends, section 660, IR35 and VAT.
Topics covered:
Limited company verses sole trader; Taking a small salary with big dividends; Section 660 – profit share between spouses; [...]
#5: Five things you always wanted to ask your accountant - part 1 [19:08m]: Play Now | Play in Popup | Download
Darren Fell | Accountancy & Tax
Heard of it? Most have but still it manages to send a shiver or two down the spine of even the most newbie contractor or freelancer who’s not quite sure!
So what actually is it? Well essentially it’s the Inland Revenue’s (HMRC) definition of ’self employment’ and it’s designed to catch those who are contracting for [...]
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