10 Recent Blog Posts https://gorillaaccounting.com/blog/ Shows a list of the 10 most recent blog posts. Gearing up for Charity – 3 days, 318 km, £10,000 https://gorillaaccounting.com/blog/gearing-up-for-charity-3-days-318-km-10-000 <p><strong>Our co-founder, Tim Murphy, will be cycling the Lakes and Dales Loop, a 318km circuit, starting and ending in Kirkby Lonsdale, to raise funds for two local <a href="http://www.onsideyouthzones.org/">OnSide Youth Zone</a> charities.</strong></p><p>The challenge is set to take place on 14 September 2017, alongside experienced riders from <a href="http://senecapartners.co.uk/">Seneca</a> and <a href="http://acceleris.com/">Acceleris</a>.</p><p>The cycling challenge which covers 318 kilometres, will be undertaken across 3 days, with the hope to raise £10,000 for Wigan Youth Zone and Bolton Lads and Girls Club. Both charities are located in the North West, close to the Gorilla and Seneca offices.  </p><p class="p1">The team will be captained by three expert riders, Norman Molyneux, Gordon Lane, and Gorilla’s co-founder, Tim Murphy.</p><p>A representative for Wigan Youth Zone said,</p><p>“On behalf of everyone at Wigan Youth Zone, thank you for your fundraising support.”</p><p>“To keep the doors open 7 days a week, 365 days a year, we need to raise just under £1.5 million per year, so every penny that you’ve helped raise for the Youth Zone is greatly appreciated and will be well spent.”</p><p>“Thanks again for your help and support, and keep up the good work.”</p><p>The funds will be split 50:50 across both groups, helping them cover the operational and running costs for the year.</p><h4><a href="http://uk.virginmoneygiving.com/fundraiser-web/fundraiser/showFundraiserProfilePage.action?userUrl=senecapeloton&amp;isTeam=true">The fundraising page can be found here.</a> </h4><p>The Bolton Lads and Girls Club (BLGC) consists of over 8000 members, with 3,000 youngsters visiting per week. The state-of-the-art centre provides a range of sport, art, and enterprise activities.</p><p>Wigan Youth Zone provides a great opportunity for cross-sector partnership to raise the aspirations of the young people of Wigan. The youth facility opened in June 2013, positioned in Wigan city centre to make an impact on the young people, and the surrounding area.</p><p>The on-road cycle route has been designed to showcase the best of Cumbria’s countryside, including the picturesque shores of Loweswater, taking you close to the famous sands of Morecambe Bay at Grange-over-Sands. </p><p>Keep up with the latest updates on Twitter - #SenecaPeloton</p><p> </p><p><strong>At Gorilla Accounting, we offer our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy</a> <strong>for just £85 plus vat per month. If you have any questions, get in touch with a member of our New Business Team by calling 0330 024 0406 or email</strong> <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a><strong>.</strong></p> Tue, 20 Jun 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/gearing-up-for-charity-3-days-318-km-10-000 It’s the season for IT contractors as demand hikes https://gorillaaccounting.com/blog/it-s-the-season-for-it-contractors-as-demand-hikes <p><strong>Uncertainty is in the air following the result of a hung parliament, but let’s share some good news – demand for IT contractors soared in the four weeks running up to June 2017, hitting the highest point all year.</strong>  </p><p>The research carried out by the Recruitment &amp; Employment Confederation (REC), found that demand spiked to 61.9, making it the best performing month for IT contractors in terms of demand, during 2017, and the whole of 2016.</p><p>The highest level previous to this was in April 2015 at 62.2, a whole two years back.  </p><h1>Why the demand?</h1><p>So, let’s explore number one, it’s the word that has been circulating around for months on end; Brexit.</p><p>Theresa May triggered article 50 on March 29, 2017, after delivering a letter to European Union headquarters in Brussels, notifying the EU president, Donald Tusk, of Britain’s intention to leave the EU. This activated the two-year countdown before Britain drops out of the European Union.</p><p>Theresa May has always championed a ‘hard Brexit’, and her aim for Britain to leave the single market. Since the public voted to leave the EU, there has been uncertainty around the citizenship of EU workers residing in the UK. As a result, many EU workers have pulled the plug, and left the UK as Theresa May failed to reassure them of their futures in this country.</p><p class="green-text"><strong>‘Droves’ of EU workers leave</strong></p><p>REC have said that EU workers have left in ‘droves’, leaving a gaping hole of vacant jobs, which opens up opportunities for contractors. As a result of EU workers leaving the UK, the NHS has become highly reliant on temporary staff.</p><p>It has also been reported by REC that there is a shortage of cyber security contractors.</p><h1>The Future of IT Contractors</h1><p>As Theresa May draws closer to concluding a deal with the Democratic Unionists Party, the date of the Queen’s speech has finally been set to June 21, 2017. The announcement will lay out a list of laws that the new government wishes to pass, which will then be voted upon in the House of Commons.</p><p>Initially, Theresa May pledged to overhaul key areas of self-employment, but as she was forced to form a government with the DUP in order to gain a majority, it is unclear as to how much of the Conservative agenda Theresa May will be able to implement.</p><p><strong>At Gorilla Accounting, we proactively inform our customers on upcoming legislation changes, as part of our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy package</a> <strong>for just £85 plus vat per month. </strong></p><p><strong>If you would like to find out more about our service, get in touch by calling 0330 024 0406 or email </strong><a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a><strong>.</strong></p> Thu, 15 Jun 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/it-s-the-season-for-it-contractors-as-demand-hikes Why are Freelancers happier than regular employees? https://gorillaaccounting.com/blog/why-are-freelancers-happier-than-regular-employees- <p><strong>Research released by <a href="https://www.ipse.co.uk/sites/default/files/documents/research/To%20be%20or%20not%20to%20be%20a%20freelancer%20-%20job%20satisfaction%20and%20wellbeing.pdf">IPSE</a>, the association of Independent Professionals and the Self Employed, found that Freelancers are generally happier than fixed term employees; we wonder if it’s the freedom, the autonomy or the absolute control that Freelancing brings.</strong></p><p>It’s all good and fair to see entrepreneurial spirit in budding freelancers, grafting their way up the career ladder, but are they actually happy? According to IPSE, it seems exactly so.</p><p>The report draws a comprehensive link between independent working and work life satisfaction, finding that 84% working as a freelancer are satisfied.</p><p><strong>Let’s break this down:</strong></p><p>66% of freelancers ticked that they were feeling ‘cheerful’ towards working as a freelancer</p><p>50% said they were feeling ‘optimistic’</p><p>46% said they were feeling energetic towards working as a freelancer</p><p>There are 2 million freelancers in the UK, contributing £119 billion to the economy, and the numbers are <a href="https://gorillaaccounting.com/blog/freelancing-on-the-rise-in-london-">steadily on the rise</a>. IPSE said that the growing army of freelancers are ‘key enablers’ for ‘innovation and efficiency driven performance,’ making up just less than half of the overall population of self-employed professionals.</p><h1>Freedom, autonomy and control  </h1><p>So, what do freelancers desire to improve their work-life wellbeing and state of mind?</p><ul><li>Confidence in abilities – self-efficacy</li> <li>Pride in the work they do</li> <li>Enough opportunities to apply their knowledge and skills</li> <li>Financial security</li> <li>Confidence in availability of freelance work</li> <li>Freedom and self-control</li> <li>Optimism and energy towards work</li> </ul><p>“One possible explanation behind this heightened sense of job satisfaction is that those who choose to be self-employed value the autonomy and flexibility that comes with this way of working, which offsets the negative aspects associated with independent work,” said by IPSE.</p><p>The volatility of self-employment tends to pose as the first barrier to freelancing, as the future can be uncertain. If you were to face a gap in employment, you typically wouldn’t be entitled to holiday pay, sick pay, or the <a href="https://gorillaaccounting.com/blog/self-employment-and-gig-economy-inquiry-report-released-by-parliamentary-committee">employment rights</a> of a fixed term employee. You would be required to prepare for gaps in employment by forming a <a href="https://gorillaaccounting.com/blog/why-every-contractor-needs-a-war-chest">war chest</a> which functions as a rainy-day fund, which can prove quite handy when demand is low.</p><p>Negative aspects which are counterbalanced by the positive aspects, as stated above, include:</p><ul><li>Lack of labour market demand</li> <li>Financial Instability</li> <li>Lack of confidence in ability for first-time freelancers</li> </ul><h1>The End Game</h1><p>IPSE have concluded that there is a positive link between ‘the decision to become a freelancer, job satisfaction and overall wellbeing.’ This suggests that the ongoing surge in freelancing is not due to a short-term solution during the recession, but because as a career choice, working as a freelancer is more satisfying.</p><p>If you’re struggling to make the move from <a href="https://gorillaaccounting.com/blog/making-the-move-from-permie-work-to-contracting-">permie work to contracting</a>,  it’s time to question the psychological and wellbeing effects.</p><p> </p><p><strong>At Gorilla Accounting, we offer our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy</a> <strong>for just £85 plus vat per month. If you have any questions, get in touch with a member of our New Business Team by calling 0330 024 0406 or email</strong> <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a><strong>.</strong></p><p> </p><p> </p><p> </p><p> </p> Tue, 13 Jun 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/why-are-freelancers-happier-than-regular-employees- Interview: IPSE Freelancer of the Year 2017 Finalist, Adam Smith https://gorillaaccounting.com/blog/interview-ipse-freelancer-of-the-year-2017-finalist-adam-smith- <p>It’s IPSE’s National Freelancers Day tomorrow, so what more appropriate way to celebrate, than to share our advice-packed interview with IPSE Freelancer of the Year finalist, Adam Smith, of HSQ productions.</p><p>In the run-up to the general election, the <a href="https://gorillaaccounting.com/blog/self-employment-and-gig-economy-inquiry-report-released-by-parliamentary-committee">treatment of gig-economy workers</a> has been at the forefront of national headlines; after all, the self-employed did contribute £119bn to the economy last year. That’s enough to fund the NHS twice over.</p><p>As a result, IPSE have published their <a href="https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed-">General Election manifesto</a>, laying out how the next government can best support the self-employed, including the introduction of a statutory definition for ‘self-employment’, as pledged by the Labour party. </p><p>As a proud accountancy provider, and advocate for the self-employed, we’re sharing the life experience of IPSE ‘Aspire’ finalist, and limited company freelancer, Adam Smith. He manages <a href="http://www.hsqproductions.com/">HSQ Productions,</a> a ‘done in a day’ video production and photography company, based in Manchester’s Northern Quarter.</p><p>He’s a southerner, turned Mancunian freelancer, and for years now, he’s been chasing the moment to take the perfect shot of the sunset. <strong>Here’s his story:</strong></p><h2>Hitting a niche is key, how do you separate yourself from other video production and photography companies?</h2><p>My niche is in ‘Done in a Day’. I guarantee to shoot, edit and deliver business video production and photography inside 24 hours. Preliminary research suggested that no-one at the time was actively marketing same day video and photography.</p><p>As my background is in broadcasting, I would plan, shoot, interview, script, record voice overs, and edit; all within the same day, inside 8 hours or so. I’ve modified this process to make it commercially friendly, and since establishing HSQ, it has been a hit with clients. </p><h2>Why did you choose to chase the freelance dream, rather than joining an agency? </h2><p>This way, no two projects are the same, I enjoy the variety of projects. Recently I was shooting film in Leeds and then a couple of days later, I was at Balmoral Castle on a photography shoot with 20 Scottish pipers. </p><h2>What sort of financial advice would you give to a self-employed professional, just starting out?</h2><p>Be money smart. Plan how and when you are going to spend your money, and don’t blow it all at once because you never know when the next client will come in.</p><p>If you decide to take on start-up finance, make sure you have a solid business plan and that you reach your sales targets. I only bought my camera after I had 5 clients because I needed to see what the demand was like for my service offering.</p><h2>How do you stay motivated when business is low?</h2><p>I make lots of phone calls -up to 50 a week-, I attend many networking events, write loads of blogs and chase up leads. This keeps me calm as I work towards the next sale.</p><p>Alongside this, the market research I do when making calls is useful because it helps me further my understanding of the market place, and discover what prospects want</p><h2>You’re an IPSE Aspire Award finalist, that’s quite the honour! How does that make you feel?</h2><p>I’m overjoyed.</p><p>It’s fantastic that I have been chosen in the ‘Aspire’ category to be representing the Manchester freelance community at the IPSE awards. When I found out that I had been shortlisted, I called round everyone to thank them for helping me get this far.</p><p> </p><p>The IPSE awards, now in their ninth year, judge each applicant on the strength of their portfolio, their passion and commitment to freelancing, business acumen, and the distinctiveness of their service offering.</p><p>The Freelancer of the Year winner will be crowned later tomorrow, at the invitation only ceremony in London, hosted by Comedian, Ellie Taylor.</p><p>We wish Adam the best of luck, and you can see a portfolio of his professional work on his <a href="http://www.hsqproductions.com/">website</a>, or follow him on Twitter, <a href="https://twitter.com/HSQProductions">@HSQProductions</a>.</p><p> </p><p><strong>At Gorilla Accounting, we offer our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy</a> <strong>for just £85 plus vat per month. If you have any questions, get in touch with a member of our New Business Team by calling 0330 024 0406 or email</strong> <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a><strong>.</strong></p> Wed, 07 Jun 2017 15:30:00 +0100 https://gorillaaccounting.com/blog/interview-ipse-freelancer-of-the-year-2017-finalist-adam-smith- Labour’s Umbrella ban –what does it mean for the self-employed? https://gorillaaccounting.com/blog/labour-s-umbrella-ban-what-does-it-mean-for-the-self-employed- <p><strong>The General Election is upon our heels, political parties have released their manifestos, and the Labour party have proposed a measure that could change the face of self-employment.</strong></p><p>IPSE have also released their <a href="https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed-">general election manifesto</a> calling for a bespoke tax system for the self-employed, fair parental benefits, and IR35 damage control. The Work and Pensions parliamentary committee have also published a <a href="https://gorillaaccounting.com/blog/self-employment-and-gig-economy-inquiry-report-released-by-parliamentary-committee">report</a> into the rights, benefits and employment status of self-employed professionals.</p><p>So, it’s fair to say that self-employment has consistently been on the political agenda since the <a href="https://gorillaaccounting.com/blog/spring-budget-2017-what-contractors-need-to-know">Spring Budget</a> was announced. The key change that has caught the eye of industry experts, and self-employed professionals has been Labour’s ban on unscrupulous umbrella companies.</p><h1>What’s Labour’s Umbrella ban?</h1><p>The party led by Jeremy Corbyn has pledged to ban umbrella companies, also known as payroll companies. On <a href="http://www.labour.org.uk/page/-/Images/manifesto-2017/Labour%20Manifesto%202017.pdf">page 51</a> of the Labour manifesto, it reads:</p><blockquote> <p>“Self-employment can bring many benefits, freedoms and flexibilities to people – and is a vital and often entrepreneurial sector of our economy. But there is also mounting evidence that workers are being forced into self-employment by unscrupulous employers to avoid costs and their duties to workers.”</p> </blockquote><p>The manifesto draws criticism around what Labour call, ‘bogus self-employment' by “banning payroll companies, sometimes known as umbrella companies which create a false structure to limit employers’ tax liabilities and limit workers’ rights.”</p><p>Labour are planning to ban umbrella companies, but it is unclear whether they are addressing every umbrella company, or just those failing to comply with existing rules.</p><h1>Industry Reaction</h1><p>This proposed measure has drawn criticism from industry academics, and it has been branded as ‘ill-thought out’. On the other hand, it has been welcomed by some umbrella companies as the move prevents self-employed workers from being exploited. </p><p>Julia Kermode, CEO of the Freelancer and Contractor Services Association (FCSA), said that the government should focus on ensuring that umbrella companies comply with current legislation, rather than outright banning them. </p><p>“In an unregulated industry, we acknowledge that there is poor practice within the sector, which is why FCSA is committed to raising standards,” said Julia Kermode.</p><p>“Rather than a wholesale ban, which only demonstrates a lack of thought, consideration and understanding on their part, we would look to work together with Labour policymakers on initiatives that promote compliance and truly support workers that choose to work through umbrellas.”</p><p>Umbrella companies contribute in excess of £3bn in NIC and tax to the Exchequer, and an estimated 450,000 workers use Umbrella payroll services.</p><h1>The Labour Defence</h1><p>The Labour party have criticised current rules in relation to umbrella companies, addressing them as ‘outdated’. In addition to this, the <a href="https://gorillaaccounting.com/blog/self-employment-and-gig-economy-inquiry-report-released-by-parliamentary-committee">latest parliamentary report</a> into self-employment found that “it is clear that current ways of categorising workers are creaking under the weight of the changing economy.”</p><p>The party have pledged that, if elected, they would extend employee rights to all workers, including shared parental pay, hoping to improve the quality of life of self-employed professionals across the country.</p><p>Labour have recognised that the law is struggling to keep up with ever-changing new forms of employment, so as a remedy, they would establish a new statutory definition for self-employment, as championed in <a href="https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed-">IPSE’s manifesto</a>.</p><p>In addition to this, they would form a dedicated commission to modernise law, made up of legal and academic experts from industry, and unions. The general election is set to take place on Thursday 8, June 2017, which will ultimately decide the future of Umbrella companies.</p><p>For a full summary of IPSE’s manifesto for the General Election, A Contract With the Self Employed, read <a href="https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed-">General Election 2017 – What’s in it for the self-employed?</a></p><p> </p><p><strong>At Gorilla Accounting, we proactively inform our customers on upcoming legislation changes, as part of our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy package</a> <strong>for just £85 plus vat per month. If you would like to find out more about our Limited Company or Umbrella service, get in touch by calling 0330 024 0406 or email info@gorillaaccounting.com</strong></p> Tue, 06 Jun 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/labour-s-umbrella-ban-what-does-it-mean-for-the-self-employed- General Election 2017 – What’s in it for the self-employed? https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed- <p><strong>IPSE’s manifesto for the General Election 2017, <a href="https://www.ipse.co.uk/sites/default/files/documents/policy/IPSE%20Manifesto%202017.pdf"><i>A Contract with the Self-Employed</i>, </a> lays out how the next government can support the self-employed, including the question we’ve all been asking; the future of IR35. </strong></p><p>The number of self-employed workers in the UK has rapidly hiked by 47% since 2001, that’s 16 years ago, and it’s is expected to rise.</p><p>James Collings, IPSE Chairman, said, “The next government must fully embrace the structural shift to give the economy the flexibility it needs.”</p><p>“Overall, the outgoing government’s approach to taxing the self-employed has been a complete disaster, with the ill-conceived plans to change IR35 and national insurance rightly attracting strong criticism.”</p><p><strong>The key policies recommended in IPSE’s manifesto include:</strong></p><h2>1. Bespoke tax system for self-employed</h2><p><strong class="grey-text">Stand-alone tax system</strong> - This should be implemented for self-employed professionals, as the existing scheme is solely fit for the traditional employee-employer structure. The new system will be responsible for clarifying the tax and employment status of independent workers, and protect government revenue.</p><p><strong class="grey-text">Making Tax Digita</strong>l - This should be mandatory after 2025, the largest businesses should be targeted first, and businesses under the VAT threshold should remain exempt. The requirement for quarterly reporting should be removed.</p><p><strong><span class="grey-text">NIC</span> </strong>- No increase should be implemented.</p><p><strong class="grey-text">Tax Decision Makers</strong> - The responsibility to form tax policy should lie with HM Treasury, where it can be overseen by Ministers, rather than HMRC as they are not overseen by a ministerial team.</p><h2>2. Fair parental benefits for self-employed parents</h2><p><strong class="grey-text">Statutory maternity/paternity pay</strong> - There is currently no support for fathers at all.</p><p><strong class="grey-text">Adoption Allowance</strong> should be introduced.</p><p><strong class="grey-text">Keeping in Touch Days</strong> -The government should review how guidelines around ‘KIT Days’ can best support self-employed mothers to upkeep their business.</p><h2>3. IR35 damage control</h2><p>By shifting the IR35 burden to the end client/agency, some independent professionals have terminated their contracts, to move into the private sector. This has had a knock-back effect on public-sector contracts as they are now stalling as a direct result of this.</p><p>The future of IR35 - IPSE are recommending that the IR35 legislation change should not be implemented to the private sector.</p><h2>4. Pension scheme </h2><p>The government should implement a review into incentivising pensions for the self-employed. The manifesto reads,</p><p>“It should explore ‘auto-enrolment’ and a ‘portable benefits system’ as possible solutions. This review should consider the design of a self-employed pension which allows temporary drawdown to cover fallow periods of work, with the drawdown being tax-free if repaid in full within 24 months.</p><p>IPSE research shows that 37% of its members don’t have a pension, while 16% don’t save for retirement at all.</p><p>The General Election 2017 is set to take place on 8 June 2017, coinciding with National Freelancers Day.</p><p>Following the snap election announcement, the <a href="https://gorillaaccounting.com/blog/government-makes-u-turn-on-dividend-allowance-and-making-tax-digital">Conservative government made a U-turn</a> on cutting tax-free dividend allowance and the implementation of Making Tax Digital. The measures are expected to come into effect once the next government has been elected.</p><p> </p><p><strong>At Gorilla Accounting, we proactively inform our customers on upcoming legislation changes, as part of our</strong> <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy package</a> <strong>for just £85 plus vat per month. </strong><strong>If you would like to find out more about our service, get in touch by calling 0330 024 0406 or email info@gorillaaccounting.com</strong></p><p> </p><p> </p> Thu, 01 Jun 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/general-election-2017-what-s-in-it-for-the-self-employed- Choosing your Registered Office – what you need to know https://gorillaaccounting.com/blog/choosing-your-registered-office-what-you-need-to-know <p>As a <a href="https://gorillaaccounting.com/blog/what-is-a-limited-company-">limited company</a> contractor, you’ll face the quizzical moment of deciding where to register your business, whether it should be your home address, or your accountants. So, let’s make this simple by exploring your options, and the benefits and not-so-good factors that come hand in hand. </p><h2>Firstly, what exactly is a registered office?</h2><p>As your limited company is a separate legal entity to you, it will need to be registered to an address. This will be your ‘registered office’ and this address will be displayed on <a href="https://beta.companieshouse.gov.uk/">Companies House</a>, which can be viewed by the public.</p><p>This address will function as the main point of communication for authorities, which means that all statutory mail will be sent here. It must also be displayed on your company’s website, and on correspondence such as invoices, bills, and emails.  </p><p>If your company is registered in England and Wales, your registered office must be located in England and Wales. If your company is registered in Scotland, your registered office must also be located in Scotland.</p><h2>What’s the difference between a registered office and business address?</h2><p>The registered office doesn’t actually have to be where you carry out your business, but it must be an accessible address.</p><p>Your business address, also known as trading address, will be where you receive all other types of correspondence from clients, suppliers and third parties, which includes junk mail.</p><p>Both addresses can be different from each other, or they can be the same – as long as they meet the above requirements.  You can always change the details of your registered office at a later date, as long as it’s within the same country.</p><h2>Why should my registered office not be my home address?</h2><p>The main determining factor is to protect your privacy, as your registered office address will be visible on public record. If this information is released, it will prove further than difficult to claw back the information in the future. </p><p>It’s also a way of physically drawing the line between your work and private life. </p><h2>Why should my accountant be my registered office?</h2><p>Your accountant will have instant access to any tax or financial documents that your business receives, allowing them to be dealt with promptly, saving you the administrative hassle of scanning, or posting documents. You can still use your trading/business address to receive more private correspondence.</p><p><strong> </strong></p><p><strong>At Gorilla Accounting, we offer the option to <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">select us as your registered office</a> for an additional £10 plus vat per month, alongside your package, saving you from receiving unwanted mail at your home address. For more information about the <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">Gorilla Accounting service</a>, get in touch with a member of our New Business team by calling 0330 024 0406 or email <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a>.</strong></p><p> </p> Tue, 30 May 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/choosing-your-registered-office-what-you-need-to-know Gorilla Accounting launches umbrella business, Gorilla Payroll https://gorillaaccounting.com/blog/gorilla-accounting-expands-by-launching-umbrella-business-gorilla-payroll- <p><strong>Gorilla Accounting, specialist Contractor and Freelancer accountancy firm, launches new <a href="https://gorillaaccounting.com/our-services/gorilla-payroll/">umbrella company</a> for flexible workers, following changes to the sector. </strong></p><p>The technology-driven, accountancy firm for Contractors and Freelancers rapidly faced unprecedented growth since grounding their feet firmly into the competitive sector of contractor accountancy in 2014.</p><p>Following their success, Gorilla Accounting have launched a new umbrella business which will offer an alternative operating solution for self-employed workers.</p><p>It is expected to attract more jobs to the Lostock-based firm, which currently employs a growing number of over 25 members of staff.</p><p>Chancellor Philip Hammond, announced in the Spring Budget that the <a href="https://gorillaaccounting.com/resources/ir35/">IR35 status of public sector contractors</a> (PSCs) will now be determined by the public-sector body, rather than the contractor.</p><p>IR35 legislation targets ‘disguised employment’, which is when a self-employed worker carries out the same work as an employee, but avoids paying the full tax as an employee would. If you are caught under IR35, you will be required to pay Income Tax and NIC.</p><p>Gorilla Payroll will allow contractors to run their contract through the payroll service. They will essentially become an employee of the umbrella company, which will function as an intermediary between the end-client and the contractor.</p><p>The umbrella company will automatically deduct Income Tax, NIC and provide employment rights which contractors are not traditionally entitled to, making it a suitable platform for PSCs.</p><p>Daniel Fallows, Director of Gorilla Payroll, said, “The latest changes in the sector, as announced in the Spring Budget, are massively affecting the way contractors operate, especially those in the public sector."</p><p>“We are welcoming change and adapting our service offering to provide the best possible solution to flexible workers across the country.”</p><p>Gorilla Accounting have <a href="https://gorillaaccounting.com/blog/gorilla-shortlisted-as-finalist-for-e3-business-awards-2017">recently been shortlisted</a> for two prestigious E3 Business Awards 17, under the category of ‘High Growth Business of the Year’ and ‘Professional Firm of the Year’.</p><p><strong><a href="https://gorillaaccounting.com/our-services/gorilla-payroll/join-gorilla-payroll/">Join Gorilla Payroll here</a>, or get in touch with a member of our New Business Team by calling 0330 024 0406 or email <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a>.</strong></p><p> </p><p> </p> Thu, 25 May 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/gorilla-accounting-expands-by-launching-umbrella-business-gorilla-payroll- Freelancing should mean domination, not exploitation https://gorillaaccounting.com/blog/freelancing-should-mean-domination-not-exploitation <p>When you invest in a freelance consultant, you invest in the power of words, advice, and knowledge – an investment that makes all the difference, but can’t be physically seen, as it’s typically a conversation that you have.</p><p>But should this mean that the investment is less worthy, and therefore should be offered on an unpaid basis?</p><h1>All Work – No Pay</h1><p>An article by <a href="https://www.theguardian.com/small-business-network/2017/may/18/all-work-and-no-pay-creative-industries-freelancers-are-exploited?CMP=share_btn_link">the Guardian</a>, explores the exploitation of a freelance filmmaker who ‘committed one of the biggest crimes in the freelance world, ’ by offering to work for commercial companies – for free- in return for exposure and experience.</p><p>The filmmaker recalls situations when he agreed the payment total beforehand, to then be refused pay when the job was completed.</p><p>As a first-time freelancer, it’s only natural to feel like you can’t demand a chunky pay-cheque, as you’re lacking in experience and your contacts list is as short as a lunch receipt. On the other hand, this leaves room for companies to undervalue the work of freelancers, and expect the work to be completed for free, or at a cheaper rate.</p><p>The newly-emerged freelancer soon realised that he was ‘undermining seasoned professionals and possibly causing them to lose out on paid work.’</p><p>He said, ‘I also didn’t foresee that, even after gaining professional experience and expertise, I’d still get asked to work for no pay.’</p><h1>Annual loss of £5394</h1><p>Research conducted by the <a href="https://www.ipse.co.uk/news/creative-freelancers-losing-over-%C2%A35k-year-due-unpaid-work">Association of Independent Professionals and the Self Employed</a> (IPSE) and <a href="https://freelancerclub.net/">The Freelancer Club</a>, found that Freelancers working within the creative industry make a whopping annual loss of £5394, due to free work.</p><p>The Freelancer Club provides a platform for creative freelancers to access jobs, meet other freelancers through networking events, and get support through mentor sessions. The Freelancer Club actively support paid work for freelancers, and as a result, they have launched the #NoFreeWork campaign.</p><p>The campaign attempts to change attitudes towards freelancers and foregrounds the value of their work. The Guardian article written by David Chandler, founder of Kind Sir Production, continues to read,</p><p>“To this day, there is still an expectation that I will work for either an extremely low amount, or nothing at all. I love filming, but I have a bigger passion for, you know, being able to afford the rent and having enough to eat.”</p><p>He continues, “I firmly believe legislation should be introduced to stop exploitative free work where the client clearly profits financially.”</p><h1>Protection for self-employed </h1><p>The lack of protection for gig-economy workers and contractors has increasingly been at the forefront of the public agenda. <a href="https://gorillaaccounting.com/blog/self-employment-and-gig-economy-inquiry-report-released-by-parliamentary-committee">An inquiry report</a> released by the Work and Pensions Parliamentary Committee explores employment status, rights and benefits for self-employed workers and freelancers. The report summarises that,</p><p>“It is clear that current ways of categorising workers are creaking under the weight of the changing economy.”</p><p>The Taylor report, which is expected to be published later this year, will also look into employment practices for the self-employed. The Taylor report, put together with the inquiry report, is expected to function as a catalyst of change for self-employed professionals, and gig economy workers.</p><p><strong>At Gorilla Accounting, we proactively inform our customers on upcoming legislation changes, as part of our <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy package</a> for just £85 plus vat per month.</strong></p><p><strong>For more information, get in touch with a member of our New Business Team by calling 0330 024 0406 or email info@gorillaaccounting.com. </strong></p> Tue, 23 May 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/freelancing-should-mean-domination-not-exploitation 5 tips to make your side business boom while employed https://gorillaaccounting.com/blog/5-tips-to-make-your-side-business-boom-while-employed- <p>If your passion for work is inescapable, committing to working on the side while working full-time may feel like the perfect in-between. After all, skills are sellable, making them an invaluable commodity which can be used to increase cash flow. It’s one of the ways prospective Contractors and Freelancers can test the waters before <a href="https://gorillaaccounting.com/blog/making-the-move-from-permie-work-to-contracting-">making the leap into self-employment</a>. </p><p><strong>We’ve rounded up 5 tips you should seriously consider when working on the side while employed:</strong></p><h2>1. Take your skills to the next level</h2><p>Committing your time to working on the side, while working full time can really take your stress levels through the roof, unless you establish a clear end-result. Whether this is a financial target, gaining specific experience or just ticking off another box, your commitment should be worthwhile.</p><p>By taking your skills to another level and upgrading your service offering, it’s a measure that’s worth the hassle. If your committing 4 hours every evening then it only makes sense to counterbalance the commitment by receiving the highest level of return possible.</p><p>If this suits your style of working, e-learning courses and ‘virtual colleges’ can be accessed at any given time from the comfort of your own home. This learning method can be cost effective and advance your skills in an accommodating way.</p><h2>2. Time to Sell</h2><p>This is the step that will most probably convert you into an opportunist. It’s not a bad attitude to have if it means that you can sell your skills by identifying opportunities around you.</p><p>The first step is the most traditional and timeless of all; word of mouth. Offline marketing tactics which are often forgotten, such as business cards and face-to-face networking, both can usually help generate word of mouth.</p><p>If you’re credible and well-known within your sector, it may be worth introducing referral fees for every successful client that signs up to your services, from a recommendation. This strategy, if successful, could generate a steady flow of customers.</p><h2>3. Financially Prep</h2><p>If your full-time job falls below the personal tax allowance, £11,000, the tax rate for your second job will typically be set at 20%. If your second job takes your income to over £32,000, you will be required to pay more tax as this touches the higher tax bracket.</p><p>Other business structures such as operating through a <a href="https://gorillaaccounting.com/resources/gorilla-guides/limited-company-or-umbrella-company/">limited company</a> can be explored. We advise you to seek professional advice before making your decision, to ensure that you’re picking the most tax efficient option.</p><h2>4. Competitor Analysis</h2><p>Produce a ten-person hit-list of your key competitors.</p><p>Check out what they do and what you can do better. This is an effective way to identify the latest trends, the latest competition and the latest service offering. It will set a model that you can work against, <a href="https://gorillaaccounting.com/blog/how-to-stand-out-as-a-freelancer">helping you stand out</a>.</p><h2>5. Time Efficiency</h2><p>Use time tracking tools to work as efficiently as possible, after all, your time is money.</p><p>As you’ll be working sporadically on projects, you’ll have to record every minute that you spend on a client to ensure that you are paid accordingly. Read <a href="https://gorillaaccounting.com/blog/four-essential-time-tracking-tools-for-freelancers">Four Essential Time Tracking Tools for Freelancers</a> to pick the best tool for you.</p><p>Working on the side, alongside your full-time job can help decide if Contracting or Freelancing is your cup of tea. By hanging onto your full side job, whilst making the decision to go into contracting, you will be able to retain the security and benefits extended with a full-time job.</p><p>If the scales are tipped towards taking up Contracting/Freelancing, it may be worth reading up on <a href="https://gorillaaccounting.com/resources/free-resources/">our Free Contractors Advice Guide</a>.</p><p><strong>At Gorilla Accounting, we offer our <a href="https://gorillaaccounting.com/our-services/contractor-accountancy-services/">all-inclusive accountancy</a> for just £85 plus vat per month. If you have any questions, get in touch with a member of our New Business Team by calling 0330 024 0406 or email <a href="mailto:info@gorillaaccounting.com">info@gorillaaccounting.com</a></strong></p> Tue, 16 May 2017 09:00:00 +0100 https://gorillaaccounting.com/blog/5-tips-to-make-your-side-business-boom-while-employed-