Contracting & Freelancing News
There’s been good news recently if you’re looking for a Contractor Mortgage. The Bank of England unexpectedly put a hold on the interest rate and it’s predicted that mortgage interest rates will fall as a result. But for many people securing a mortgage isn’t easy, and that’s especially true if you work as a contractor. Due
As we enter Autumn and look towards the last few months of the year and the busy Christmas pull-up, navigating your finances as a small business can sometimes feel like you’re treading water. With so much to do to keep your small business moving forwards during a cost-of-living crisis, balancing the books and ensuring the cash
There are many advantages of being self-employed and working as a contractor or freelancer. Flexibility, freedom, independence, a good work/life balance and a high rate of pay are just a few of them. But on the flipside, contractors also face a degree of risk. As a self-employed contractor you effectively work alone and don’t have the
Inflation in the UK has been a huge talking point within the industry throughout the past year, with many families and businesses struggling with the rise of interest rates. This week, the Bank of England kept the base rate at 5.25% – the highest level it has been in 15 years. However, many did find this
If you have a VAT-registered business and have previously submitted a late VAT return or payment, you may be familiar with the default surcharge scheme. For VAT return periods starting on or after 1st January 2023, the default surcharge scheme has now been replaced and a new late submission financial penalty scheme applies if you submit
There are various benefits of setting up your own limited company including the financial safety net of limited liability, being able to claim a wide range of allowable expenses, and the opportunity to improve tax-efficiency. It’s easy to see why so many self-employed people and small businesses follow this path and choose to form a limited
Everyone is familiar with the famous Benjamin Franklin phrase that nothing is certain except death and taxes, and it’s true to say that taxes are a necessity. Taxation is an essential component of any economy and the taxes we pay fund public services such as schools, prisons, the NHS, defence and more. They also cover social
A Salary and Dividend Tax Calculator is a specialist financial tool to help contractors, freelancers and self-employed people operating through a limited company get easy and quick insight into their tax liability and take home pay. Essentially, they can help you to determine how best to structure your remuneration. When you operate through a limited company,
Time is a precious commodity for sole traders and all self-employed people. You will likely find yourself working on multiple projects with tight deadlines to meet. On top of that there are other responsibilities all sole traders face such as marketing your business and winning new work. Another obligation that can take up a lot of
The number of limited companies in the UK continues to increase over time as more and more people make the transition from traditional employment into self-employment. When setting up your own business, one of the first decisions you’ll have to make is on your operating structure. The business structure you choose will have different implications in
It’s fair to say that it’s been something of a turbulent year so far for the estimated 2.7 million landlords in the UK. The rental property market is becoming more complex over time and the regulations and challenges that landlords face are increasing. There’s also significant uncertainty in the property market. In this post we explore
The number of Contractors has increased in recent years and in an ever-evolving and dynamic job market, they add significant flexibility to the workforce. By working on a project basis, Contractors make their specialist skill sets easily available to businesses across a huge range of industries. There are many benefits of being a Contractor including the
