Recent statistics show that there are almost 6 million people in the UK who are still required to complete a personal tax return but haven’t. If you’re one of these people, you could face fines and mounting penalties if you don’t file soon.
2016 has been a challenging year for contractors using an umbrella company and 2017 does not look any friendlier. April signalled the end of Travel and Subsistence tax relief which has had a significant impact on thousands of contractors by reducing their take home pay. Should you consider leaving your umbrella company to have a more profitable 2017?
With tax legislation overhauls confirmed in the Autumn Statement, including changes to IR35 for the public sector and a new VAT Flat Rate, it’s good sense as a contractor to be aware of what’s coming in the New Year.
Contractors are being tempted to increase their take-home pay by using tax avoidance schemes. These promoters market themselves as being compliant and reliable but this is contrary to the truth.
What contract roles are available for construction contractors right now? What will the future hold for the construction industry? The industry has experienced times of tough economic conditions and declining growth for much of 2016, but recent figures show some resilience and improvement.
The Apprenticeship Levy is the initiative of George Osborne, previous Chancellor of the Exchequer, to assist the funding of apprenticeships and training in order to invest in Britain’s future.
As the director of your own limited company, you may be entitled to tax relief on your 2016 staff Christmas party. Check out the criteria and see if you can benefit.
Chancellor Philip Hammond has just announced this year’s Autumn Statement, outlining the government’s future plans for the economy, including imminent changes to tax legislation.
If you have decided that trading through your own limited company is the most beneficial option for you, you now have the task to go about finding and choosing a contractor accountant.
Software versus accountant – which is the right option for you? There are pros and cons to each, and we cover them here to help you reach a decision on the option that is best for you and your working circumstances.