What does the Autumn Statement mean for contractors?

Philip Hammond delivered his first (and his last) Autumn Statement as Chancellor of the Exchequer and we’ve summarised the main announcements relating to contractors: 1. VAT Flat Rate Scheme (FRS) A new Vat flat rate of 16.5% will be introduced from April 2017 for contractors who have little expenses. For example, an affected IT contractor…

Paperless accounting – improving the way we work online with our clients

We have made further improvements to the way we communicate with our clients online. Designed to make contracting hassle-free, our cloud accounting platforms help you manage your accounts on the move, anytime, anywhere. Our K&B OpenSpace, powered by IRIS, is an easy and secure way for clients to work with our accountants – upload, transfer…

Festive and Annual Event Expenses – FAQs for Contractors and Freelancers

As we are now just a month away before the holiday season starts, our experts answer the most commonly asked questions about festive and annual event expenses: Q. Can my limited company claim festive or annual party as deductible expenses for corporation tax purposes? A. Yes. The cost of entertaining your employees, as long as…

IPSE’s Autumn Statement Predictions

Simon McVicker, Director of Policy and Public Affairs: This Autumn Statement promises to be the defining moment for the new May Government. Chancellor Philip Hammond will have to outline his vision for the UK economy post Brexit. Intrinsically Philip Hammond is considered a more fiscal conservative than it seems Mrs May is after her interventionist…

HMRC Intermediary Reporting Deadline is 5th November

Guest post by Cloud9 Umbrella: Winter is coming, and so is another HMRC deadline. The government introduced the Onshore Employment Intermediaries legislation in April 2014 to stop the use of false self-employment models where workers and employers may be avoiding paying tax and where the employer also avoids their other employment responsibilities. For the period…