Setting up a limited company is the most tax-efficient way to operate as a contractor – subject to your contracts falling outside of IR35. Our short guide will help you gain an understanding of the various taxes you will be liable for as a limited company director.
Chancellor Rishi Sunak has unveiled new economic measures ahead of the closure of the furlough scheme in October, to support jobs and the economy over the coming months. Our blog outlines the critical support packages introduced in the Winter Economy Plan.
The Treasury has scrapped plans for an Autumn 2020 Budget in order to focus on its response to the coronavirus pandemic.
Capital Gains Tax is a tax on the profit made when you sell or dispose of an asset that’s increased in value. Our blog explores what the tax is, when it’s due, exemptions and allowances.
As part of the package of measures included in the draft Finance Bill 2020-21, the Treasury has set out a roadmap for extending Making Tax Digital filing. From April 2022, the programme will be extended to all VAT registered businesses and plans to include income tax self-assessments from April 2023.
Completing a tax return can be time-consuming and often stressful – especially if you decide to put it off until the last minute. Although it’s tempting to leave it until later in the year, there are many benefits to filing your Personal Tax Return early.
In a bid to tackle fraud in the construction industry, HMRC will be introducing a domestic reverse charge which will take effect from 1st March 2021. The new legislation will only apply to specific building and construction services and will mean that the customer will now be liable to account for the VAT on purchases.
The Employment Allowance allows eligible businesses in the UK to reduce their annual National Insurance liability by up to £4,000. Our blog explores how the allowance works and how your company could benefit from it.
Rishi Sunak unveils stamp duty holiday, furlough bonus and VAT cuts in the hospitality sector as part of £30bn plan to prevent mass unemployment and kickstart the economy.
Umbrella companies will provide you with an illustration to give you an idea of what your take home pay is likely to be after all relevant deductions have been made. While these illustrations are as accurate as possible, it is important to remember that they are only examples, and your actual take home may differ slightly.