WHAT HAPPENS IF YOUR IR35 STATUS IS CHANGED?
Reforms to off-payroll rules in the private sector would mean end hirers become responsible for your IR35 status determination. What happens if your status is changed?
PENSION PLANNING WHEN TRANSFERRING FROM PSC TO UMBRELLA
What happens to your pension if you switch from working as a limited company contractor (PSC) and join an Umbrella company?
AWR (AGENCY WORKER REGULATIONS) EXPLAINED
If you are affected by off-payroll reforms and are considering alternatives such as Umbrella employment, it’s helpful to understand AWR.
IR35 reforms – should you work through a consultancy?
We are here to help you make sense of the IR35 (off-payroll) reforms. Here we look at the option of forming a consultancy with other contractors.
Umbrella expenses – why not?
Expenses cannot be claimed when you’re an Umbrella worker and subject to supervision, direction and control. Here we explain why.
Witches and extra-woolly underwear: the bold and bizarre excuses and expense claims taxpayers have made
With every annual Self Assessment deadline, HMRC releases some of the unusual and outlandish excuses they receive for late tax return submissions. They also reveal some of the more brazen expense claims self-assessors have attempted to submit. Regardless of how amusing these entrants may be, HMRC holds its stance that these eccentric excuses and claims…
What is classified as ‘goods’ when determining if you are a limited cost business after 1 April 2017?
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…
Annual Christmas Party Expenses for 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…
K&B Christmas Party: we made it a December to remember!
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…
5 common mistakes to look out for in your Self Assessment Tax Return
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…
How to claim tax relief from charity donations and Gift Aid
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…
Resounding industry disapproval regarding the 2019 Loan Charge
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…