Blog: contractor news and industry updates

FreeAgent win Small Business Accounting Software for the 2nd year at the Accounting Excellence Awards 2018

Posted by Natasha Webb September 26, 2018

On Thursday 20th September, K&B Accountancy Group were invited to join FreeAgent at the Accounting Excellence awards to celebrate another great year of innovation and growth within the accountancy technology world. Since 2010, The Accounting Excellence Awards in partnership with the ACCA, recognise the achievements of ambitious practices and inspiring technology providers within the profession…

Contractor wellbeing series: studies show self-employed have higher job satisfaction

Posted by Ani Bazil September 17, 2018

A recent study published in the journal Work, Employment and Society, revealed that self-employed people are much happier and have more job satisfaction than employees. The research carried out by business experts from the Universities of Exeter and Sheffield showed that contractors are more engaged with their projects and find work to be more rewarding…

Busting IR35 myths: sorting the fact from the fiction

Posted by Ani Bazil September 14, 2018

Have you heard a variety of claims about IR35 that seem to make sense but you’re just not sure if they’re true? We’ve rounded up a few common IR35 myths we’ve heard and want to debunk them for you. The legislation is complex as it is without these IR35 myths and assumptions being added to…

What to consider if you want to switch from umbrella to limited

Posted by Ani Bazil September 13, 2018

When you first start out in contracting, working under an umbrella company is an excellent stepping-stone into the world of self-employment. But at what point should you start considering switching to a limited company? If you are new to contracting, using an umbrella company is ideal due to the minimal administration you need to manage.…

Contractor wellbeing series: why travel is an essential part of self-care as a contractor

Posted by Ani Bazil September 12, 2018

It is important to know the difference between pushing yourself to be the best you can be and pushing yourself to the point of a burnout. As a continuation of our contractor wellbeing series, this week we will talk about the importance of getting away and why travel is crucial for life as a contractor.…

Contractor wellbeing series: top tips to integrate self-care into life as a contractor

Posted by Ani Bazil September 6, 2018

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…

Annual Christmas Party Expenses for Contractors

Posted by Marketing team November 29, 2017

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…

What is classified as ‘goods’ when determining if you are a limited cost business after 1 April 2017?

Posted by K&B Tax and Accountancy Team March 20, 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…

AWR (AGENCY WORKER REGULATIONS) EXPLAINED

Posted by K&B Tax and Accountancy Team November 26, 2019

If you are affected by off-payroll reforms and are considering alternatives such as Umbrella employment, it’s helpful to understand AWR.

Contractor pay rates see sharp inflation

Posted by Ani Bazil April 19, 2018

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…

Cracking down on risky contractor loan schemes

Posted by Natasha Webb December 13, 2018

2017 was a turbulent year for contractors, especially those who work within the public sector and were hit by the introduction of the “off-payroll” reforms in April. Following this, a storm of risky umbrella firms begun luring temporary workers with promises of higher take-home retentions in a bid to sidestep the tax crackdown that occurred…

HMRC wins first IR35 case in seven years against former BBC presenter Christa Ackroyd

Posted by Ani Bazil February 20, 2018

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…