As a K&B Accountancy client, you will be familiar with FreeAgent’s cloud-based accounting software which has been specifically designed for both contractors and small businesses. If you are regularly travelling and don’t always have access to your desktop, then the FreeAgent mobile app is a handy must have! You can see an overview of your…
Our premium partners, FreeAgent, have written a guest article on Cloud Accounting. Read on to find out why April is the best time to switch your accounting software! Now that spring has officially sprung, it’s almost time for a new tax year. Whether you currently use spreadsheets, or a desktop or online accounting system, if…
With the weather getting warmer and Spring in full swing, what better way to enjoy the sun than getting outdoors and relaxing! Or if you prefer to be more active, then it’s a great time to start on those DIY projects! From booking your Easter escape holiday to more ambitious past times, such as building…
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…
ContractorUK has identified three large areas where IT contractors’ skills will be required the most this year – one of which is information security and governance. Additionally, IT roles that will be most sought after this year includes security engineers, security consultants and security analysts to name a few. This is most likely due to…
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…
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…
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…
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…
If you are affected by off-payroll reforms and are considering alternatives such as Umbrella employment, it’s helpful to understand AWR.
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…
‘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…
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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