Umbrella vs Limited – could switching be for you?

Apart from take home pay and travel and subsistence claims, here are some of our top tips you should also take into account: IR35 status Umbrella: IR35 is actually not applicable to umbrella as you are classified as the employee of the umbrella, and your entire income will be taxed under PAYE. Limited Company: This is…

Is setting up a limited company the answer for umbrella contractors looking to keep their Travel and Subsistence expenses?

Last months Autumn statement and the recent draft Finance Bill revealed that contractors working through an intermediary, such as an umbrella, will not be able to claim Travel and Subsistence expenses for ordinary commuting. This is unless they can demonstrate and provide evidence on the lack of Supervision, Direction or Control. It means that most,…

Vote for K&B Accountancy Group

K&B Accountancy Group is excited to have been put forward for the ContractorUK Reader Awards 2015. Our category is “Best Contractor Accountant (Small/Medium)”. Winning such a prestigious award would be an excellent way to end a thoroughly enjoyable and successful 2015. Please note that voting has now closed. We will keep you informed when the…

Christmas expenses Q&A – important information for contractors and freelancer

Now that December has arrived, there is no hiding from the fact that Christmas is less than 4 weeks away. As the build-up intensifies, days seem to get shorter as schedules become packed with shopping trips, social gatherings and last minute jobs at home. However, as a contractor or freelancer, there are many expenses and…