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,…
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…
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…
Despite much speculation, there was little detail regarding the restriction on travel and subsistence expenses, and a revision of IR35 in Wednesday’s Autumn Statement – the government will release more information on 9 December. All we know, is that changes on 6 April 2016 will affect workers engaged through an umbrella company, and individuals working…
On the 25th November 2015, George Osborne will present the first ‘all Conservative’ Autumn Statement to the House of Commons. The Autumn Statement is similar to the yearly Budget – announced in July, but contains less important economic policies. Last year’s Autumn Statement took roughly 55 minutes to be presented by Mr. Osborne and there…
With the ever increasing number of bogus emails and phishing scams from individuals claiming to be someone they’re not, there’s the danger of exposing your personal details to fraud. So courtesy of Companies House, here are methods to protect yourself online: Login details Keep your login details secure. Do not write them down or tell…
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…
You’ll often find discussions and reasons as to why you should move from an umbrella to a limited company. But we thought we’d discuss the reverse, because sometimes, the arrangements of working through a limited company, no longer make sense for the position you are in. So why might you consider switching from a limited…
It’s been well over a year since the Criminal Finance Act (CFA) was introduced 30th September 2017, which saw companies become criminally liable for any facilitation of tax evasion and tax avoidance schemes by any persons representing the company, and a recent Tax Journal has proposed that HMRC is ‘chomping at the bit to investigate.’ After the…
The overall demand for skilled candidates was revealed to still be significantly increasing, as of November, according to the monthly Report on Jobs by IHS Markit/REC. Consultants were asked to report on the availability of contractors and the latest index result was 39.6. Index readings below 50 indicate a lower availability than the month before,…
Did you know, if you switch to our Umbrella, you can continue to contribute to your personal pension scheme or SIPP? That means you can use our Umbrella without having to change any of the plans you’ve made for your retirement.
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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