For recruitment agencies, the relationship between consultants and their contractors is built on trust. Candidates rely on recruiters to provide the best possible advice in regards to their finances and salary. This is why it’s vital that agencies use a clear, concise and compliant umbrella company for support. We explore how agencies can benefit from…
We are delighted to announce that we have been nominated for Best Contractor Accountant (Small/Medium) at the ContractorUK Awards 2018. The ContractorUK Awards is a fantastic opportunity for you to vote for the organisations that you believe have provided an exceptional service. We are proud to have been nominated as we believe the nomination reflects…
Aside from IR35 being extended to the private sector in April 2020, what other changes were revealed for contractors in the Budget 2018 report? From Entrepreneur’s Relief reform and VAT registration frozen thresholds to Personal Allowance and Higher Rate Thresholds. We’ve done a quick summary of what’s most important for contractors. Entrepreneurs’ Relief reform…
On 29th October 2018, Philip Hammond finally delivered the highly anticipated Autumn Budget 2018. After much speculation, it has been confirmed that IR35 reform will be extended to the private sector. Despite fears that the reform would be introduced in April 2019, the Chancellor of the Exchequer said the changes would not be implemented until April 2020.…
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…
Staff placements and temp billings continue to rise in the job market as unemployment rates fall to 4.0%. Reported by the Office for National Statistics (ONS) the UK unemployment rate is now at it’s lowest since 1975. Naturally, the reduction in unemployment levels corresponds with strong hiring growth. Though the ongoing decline in candidate shortages…
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…
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…
If you are affected by off-payroll reforms and are considering alternatives such as Umbrella employment, it’s helpful to understand AWR.
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…
‘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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