HMRC is planning to implement a points-based system for those that are late filing their self-assessments (Personal Tax Returns) and other taxes such as VAT Returns. Currently the penalty for late Personal Tax Returns is £100 instantly for filing late up to three months past the 31st January deadline.
From 13th January 2018, HM Revenue & Customs will no longer be accepting personal credit cards for tax payments. If you are a sole trader or a limited company director, this affects you.
Chancellor Philip Hammond presented his Autumn Budget 2017 to the House of Commons on Wednesday, 22nd November 2017. It outlines the government’s plans for spending, borrowing, taxes and other fiscal measures. Read our Budget summary to see the key announcements and what could affect contractors and freelancers in the UK.
You have probably seen the terms ‘contractor’ and ‘freelancer’ thrown about online quite often, especially if you’re searching for an accountancy service. If you take on some form of temporary or project-based work, either wholly as a career or on the side of your permanent job, you will likely fall into one of these two categories.
Festive season has officially begun. Between contracting, Christmas parties and gift shopping, the next couple of months will be very busy. So we’re giving you three tips to help get you smoothly through the holiday season.