There are big advantages to going self-employed such as having more control over your time and work. But with the fast-paced lifestyle, most of us have today, experiencing stress from time-to-time is a normal part of life. So it doesn’t hurt to incorporate some self-care habits into your day-to-day routine to help you avoid unnecessary…
Data obtained by ContractorUK uncovered that HMRC has topped the leaderboard for IR35 blanket decision-making, since April 2017’s changes to the legislation. A blanket-decision is when contractors are assessed collectively rather than individually for their IR35 status. From the 38% of PSCs working at public bodies to have suffered a blanket decision, nearly 19% of these…
The latest Confidence Index from the Association of Independent Professionals and the Self Employed (IPSE) and PeoplePerHour has revealed that British contracting professionals show the brightest and most confident outlook on their future since before the Brexit vote. Despite the uncertainty of today’s climate from trepidation for the outcome of Brexit and economic pressures to outstanding…
Over the past 12 months, in HMRC’s pursuit of online fraudsters, it was reported that a record number of fake websites posing as HMRC have been deactivated. With the introduction of cutting-edge technology designed for tackling cybercrime, HMRC appears to have been successful with over 20,750 malicious websites having been taken down – a 29%…
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…
Many within the contractor industry have criticised HMRC’s CEST tool as not fit for purpose. The digital tool was designed by HMRC to help contractors determine their IR35 status but it has been scathingly criticised by the self-employment industry. ContractorUK firmly surmised it as: “wrongly seen as mandatory. Too blunt to be sector-specific. Unhelpful to…
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…
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…
HMRC recently published further guidance on off-payroll working for PSC workers in the public sector. Cloud9 Umbrella has written a guest article on the topic below. It’s one of the biggest topics of conversation within the industry, creating a massive stir for contractors and steadfast decisions from end clients. The off-payroll working in the public…
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…
Since the public sector reform in April 2017, we are still asked frequently by public sector contractors if they should continue using their own limited company or switch to an umbrella. The answer very much depends on each individual’s circumstances thus we would strongly encourage contractors to speak to us for tailored advice. Nonetheless, we…
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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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