If you work as a sole trader, the decision to incorporate your business and trade through a limited company is a major step. There are various factors that should be considered carefully before you make a decision. Although there’s no set timeline as to when you should incorporate, read on as we guide you through the
HMRC have made an announcement that has been welcomed across both our industry as accountants and by self-employed contractors up and down the UK. HMRC has launched a consultation on the IR35 off-payroll working rules, which could completely eradicate the huge problem of double taxation. Many industry experts have agreed how morally wrong the legislation is
Becoming a contractor and working for yourself can be an attractive career option for those who are looking for more flexibility, independence, and control over their work. If you have a particular skill or expertise that you can provide a service for, you can find clients, determine your rates and working schedule, and earn money in
In the latest news from the property sector this week, it’s estimated that around 140,000 landlords that bought buy-to-let property in the 1990’s have sold them in the last year. As they approach retirement age, a whole generation of landlords with buy-to-let properties are selling up, meaning there are even less properties on the market for
Managing your business finances can be a real chore if you use your personal bank account for your business, or if you have a business bank account that doesn’t fit your needs. We often have contractors, sole traders, freelancers, locums and other self-employed business owners come to us having heard conflicting advice regarding business banking, and
If you’re a self-employed freelancer, contractor, consultant or small business owner, you’ll have been getting ready for the new Tax Year for a while now. Last month saw a strong Spring Budget announcement from the Chancellor, with a lot of the announcements affecting you and your business in some way. One of the most important takeaways
After a long and protracted legal battle, former footballer turned sports presenter Gary Lineker has finally won his appeal in the IR35 case brought against him by HM Revenue and Customs (HMRC). Lineker was accused by HMRC of underpaying £4.9m in tax and national insurance on his income from working as a presenter for the BBC
Financial records accessed by BBC News have this week revealed how there has been record revenue for staff agencies supplying the NHS. Companies who are providing freelancers, locums and agency staff to the NHS to cover huge shortages of doctors and nurses have seen their income rise by tens of millions of pounds since 2019. In
The last couple of weeks has been incredibly busy in the world of finance, with the annual Spring Budget announcement last Wednesday being a real key interest for all those working in the sector, as well as business owners and self-employed freelancers and contractors across the UK. On top of the budget, we’ve also been digesting
As we get ready for a new Tax Year, the Spring Budget is something we and many self-employed freelancers, contractors, sole traders and small businesses have marked on the calendar. Chancellor Jeremy Hunt today delivered his Spring Budget, and it was as he called it – “A budget for growth”. Overall the outlook for the UK
Being self-employed is something that many of us strive for, and if you run your own business as an individual and work for yourself, you are known as a ‘Sole Trader’. Being a sole trader comes with a whole host of advantages. You can set your own working hours, develop a healthy work/life balance and be
As one of the most famous faces in football, Gary Lineker is no stranger to scoring a goal or two – and it looks like he might score against HMRC too. Gary Lineker has contested his £4.9m tax bill, and his lawyers have blasted HMRC, telling a legal hearing that a tax inquiry into the footballer’s
