Chancellor Philip Hammond presented his Autumn Budget 2017 to the House of Commons on Wednesday, 22nd November 2017. It outlines the government’s plans for spending, borrowing, taxes and other fiscal measures. Please find below a summary of highlights and key announcements we think are most relevant to contractors and freelancers in the UK. Please note…
In the build-up to the Autumn Budget very much dominated by contractors speculating whether IR35 reforms will be extended to the private sector and seven months on from what experts have described as the change that would bring about the end of public sector contracting. We ask, “What have we learned in this time?” Recap…
One of the most frequently asked questions from our clients on the VAT flat rate change for a limited cost business is: “what is counted as ‘goods’ when determining if they need to use the higher rate of 16.5%?” According to HMRC guidance, ‘goods’ are movable items or materials exclusively used in your limited cost…
The eagerly anticipated Spring Budget has already come and gone and whilst we were expecting most of the changes, there were a few announcements which will be affecting the self-employed. With so many changes coming into effect this April, we’ve summarised the main highlights from the spring budget which may be more relevant to contractors…
‘Effective from 1 April 2017, The VAT flat rate scheme (FRS) for businesses with limited cost is set to increase to 16.5% from their current rate, based on defined criteria for a limited cost trader.’ What is a Limited Cost Traders? According to HMRC guidance, a limited cost trader will be defined as one whose…
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…
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Due to severe weather conditions, our offices are closing early at 4pm today to ensure our employees can get home safely. Our offices will be open on Monday as per the usual hours. We apologise for any inconvenience caused and thank you for your understanding.
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