Contracting & Freelancing News
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
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
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
Earlier this week, Boris Johnson announced a new health and social care tax to be introduced to the UK in April 2022. The goal of the tax is to raise funds to pay for care sector reforms and contribute towards NHS funding in England. The new tax will see a hike in National Insurance contributions from
For anyone who is self-employed, it is crucial that you know where you stand in relation to IR35. At Gorilla Accounting, we work in partnership with Kingsbridge to offer you a free IR35 review to help you remain IR35 compliant. A Brief Introduction to IR35 IR35 is the government’s way of identifying whether a person is
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
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
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
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
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
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
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
