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Contracting & Freelancing News

Which Insurance do Contractors Need to Take Out?

Insurance is essential for any business, not just contractors, and will protect not only your business but also your employees if a claim is made against you or the company. This could be considered the most crucial aspect within your business as this covers you if you take a wrong turn. Professional Indemnity Insurance This insurance

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Contracting is on the up

A small increase in the hiring of contractors has been announced. Data released from the Association of Professional Staffing Companies (APSCo) reveals a one per cent increase of the employment of temporary work compared to the same period in 2014. Contractors who specialise in finance and accounting saw a dramatic increase with a 9 per cent

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Accelerated Payments Remain After HMRC Win

HMRC have won a High Court battle following the legality of accelerated payments. The payments, that were introduced last year, are an attempt to crackdown on tax avoidance and make individuals who are suspected of tax avoidance pay their tax up front while avoidance is being investigated. HMRC opposition claimed the payment notices were not only

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The Uprising of the Cloud

The cloud market has developed hugely in recent years, and the most significant changes emerging in the market is IT. Each cloud software has one key aspect an individual reviews before choosing which software they want. This is security. If a company can provide 24/7 support as well as test and apply patches then you are

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A Tough Regime…

Recently, a new regime in an attempt to crack down on offshore tax evasion has kicked in. It is predicted that the new regime will help reduce crime involving tax avoidance massively. Proposed changes include: A new criminal offence for offshore evasion. A new criminal offence for corporates who fail to prevent tax evasion. Increasing the

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HMRC Payment Notices Issued

HMRC’s annual report from the 2014/15 financial year has revealed around 10,000 accelerated payment notices were issued to individuals involved in tax avoidance schemes. They also announced they expect to issue a further 64,000 accelerated payment notices to both individuals and businesses involved in tax avoidance schemes. Furthermore, the report revealed 89.7% of complaints made to

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Summer Budget: Changes for the Better

Following the negative changes impacting contractors and freelancers in the Summer Budget, we have pulled together some of the more positive tax changes that have been proposed. Although contractors have been hit hard, the Summer Finance Bill includes actions taken by the government to ensure that other individuals keep a greater amount of the salary they

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FreeAgent – A Revolutionary Step for Accountancy

I recently became a new user of FreeAgent, which I am finding very exciting. It takes the stress away from the bookkeeping duties for our contractor and freelancer clients and enables us to provide them real time advice as we can access the client’s data. We are able to access the client’s data at the same

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London: The ‘Tech Hub’ of Europe

During the London Technology Week, which Boris Johnson recently opened with a ‘blizzard of statistics’, attention turned to the City that is claimed to be ‘the most important tech hub in Europe’. With a 46% increase in the digital technology sector since 2010 and an employment number of 200,000, it can be seen as no surprise

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Is this the end for National Insurance?

Both Income Tax and National Insurance could be involved in one of the biggest restructures of the tax system in decades. The Chancellor, George Osborne, has ordered a study into the reforms that could potentially lead to the creation of a single “earnings tax”. Mr Osborne considered merging the two taxes in the final Budget of

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4 Questions You Can (and Should) Ask Your Accountant

Amazing accountants got to where they are now not through mystical means or because it’s their destiny, but by working hard to learn the ins and outs of business and finance. That means they’re often seen as fonts of wisdom – and they are! You may have a hundred burning questions to ask your accountant, but

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New Smartphone App Opens Doors for Entrepreneurs

Starting up a limited company? There’s a new smartphone app that may be just what you need to succeed. The app – called SmartUp – is receiving global attention for its ability to aid new entrepreneurs in securing funding, mentoring and life lessons about business. The SmartUp app was developed by Founders Forum in an attempt

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