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What is HMRC Voluntary Disclosure (and Should You Consider it)?

So, you’ve made a mistake in your HMRC submission – now what? Having the correct information on the documents you submit is crucial, but mistakes can and do happen. However, the question does arise: if, as a self-employed individual, you realise there’s an error, should you disclose it to HMRC voluntarily? In this article, we’re taking

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How Can You Start a Small Business Online

Want to start a business? If so, you’re not alone. At the start of 2020, there were 5.94 million small businesses in the UK, which goes to show many people are interested in becoming their own boss. There are many different types of businesses you can set up, including online ventures. If you’re planning to open

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How Making Tax Digital will Affect Landlords

Making Tax Digital (MTD) continues to be a key topic of discussion, especially as changes to the legislation are set to affect business owners, including landlords and agents. MTD for Income Tax Self-Assessment will apply from April 2024 for unincorporated businesses and for landlords with a total income of over £10,000 a year. So, as accountants

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What to Look for When Choosing Contractor Accountants

Once you have decided the best thing for your career is to become self-employed, it’s time to choose a specialist accountant who understands your needs and can help you manage your tax affairs efficiently. The right accountant can be an incredibly valuable asset since they will save you time and money, be available to answer any

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Dealing with Taxes When You’re a Locum

Many doctors and veterinarians opt to become locums instead of remaining in full-time employment. This offers them several advantages, including flexibility, better pay and better work-life balance. However, becoming a locum also comes with several tax responsibilities, which you should be aware of before leaving your job or changing careers. It is also worth noting that

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Financial Planning Tips for Contractors

Whether you’re a sole trader or a contractor, managing your money is one of the most important things you can do – not only for the present, but also to prepare for the future, especially when you stop working. Financial planning for the self-employed means considering pensions, taking out dividends, sorting out your taxes, etc. As

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Contractors Are Seeking an End to Zero Rights Employment

Contractors are concerned about their current situation, particularly the zero rights they have under off-payroll rules, meaning they’re not entitled to a minimum number of paid holiday days or to maternity pay, while still having to pay employment tax. They’re now calling on the government to change this. Two-thirds of contractors are now inside IR35 due

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Best Summer Books If You’re Looking for Business Inspiration

Looking for some summer reading? If you’re thinking about becoming self-employed, it’s crucial that you do as much research as possible before taking the leap – and this includes reading all you can about business. So, to help you on your journey to self-employment, we’re curating a list of start-up and business books that can both

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Meet the Team – Part 1

Gorilla Accounting specialises in accountancy for contractors, freelancers, SMEs and locums, so it’s fair to say we work hard to help our clients grow their business – and make the most of tax season. However, we also have a lot of fun in the office. Our team is made up of a unique group of individuals

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Most Frequently Asked Questions About Self-Employment

With so many people seeking to become self-employed, it’s normal that they have questions about owning their own business. As contractor accountants, we want to help you succeed, so we’re answering some questions you may have about becoming a sole trader or contractor in this article. Can You Start Freelancing Without Experience? While it’s true that

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