On April 4th, 2018, businesses with more than 250 employees were required to publish data on the gender pay gap between employees at their organisation. The results for the overall labour market were an unfortunate reminder that economic inequality is still prevalent in the UK. From over 10,000 businesses, 78% were revealed to pay their…
Across the UK, contractors and temporary staff are receiving notably higher pay rates. The REC disclosed that the steepest inflation in contractor pay rates recorded was in London. However, across the board, wages were continuing to rise, extending this trend to 62 months. Contractor pay rates accelerating at an exceptional rate REC director of…
The Chancellor of the Exchequer, Philip Hammond presented his Spring Statement to Parliament on Tuesday 13 March 2018. Unfortunately, the contractor sector must wait a while longer for news on any potential IR35 changes. There is a lot of frustration within the industry as many publications are being waited upon. What are we still…
Former BBC presenter, Christa Ackroyd has lost her legal battle with HMRC and is now facing a fine of £419,151 in outstanding income tax and national insurance contributions covering tax years: 2006/07 to 2012/13. This ruling made by the first tier tribunal (FTT) was based on the judgement that despite Ackroyd working through a PSC…
As a contractor, insurance is important to protect yourself from any issues that may arise from your business activities. With the huge variation of packages available, it’s easy to feel overwhelmed by what to get. The right coverage depends on each contractor and the type of business they have. We’ve rounded up a few suggestions…
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…
As we are now weeks away from Christmas, and the holiday season is in full swing, we cover the most common queries about festive and annual event deductible expenses. Annual Christmas party as deductible expenses Your limited company can claim its festive or annual party as deductible expenses for corporation tax purposes. The cost…
We decided to end the year on a festive note by hosting a contractor Christmas Party for K&B clients and partners on Monday evening. It was great to see so many contractors turn up for a chance to mingle with our team and network with fellow contractors whilst enjoying the vibrant atmosphere. Christmas drinks at…
Completing and submitting your Self Assessment Tax Return (SATR) can seem like a daunting task, but having it prepared well in advance of the 31st January deadline will make your life so much easier. If you miss the deadline you will be subject to a penalty, and this sum will only increase the longer you…
We recently published an article overviewing HMRC’s new legislation, the 2019 Loan Charge. The government claims this to be the next phase in tackling tax avoidance. However many have raised concerns about the harshness of the new bill. There are calls for the taxman to be compassionate and flexible towards those they are taxing as…
While it’s exciting to prepare for holiday celebrations with your friends and family, the festive season is also a time to stop and reflect on the joys and blessings of our lives and share this with those in need. If you are planning to make a donation to a registered charity there are some opportunities…
OFFICES CLOSED
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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