Category: News

Understanding the Disadvantages of Sole Trader Business Structure

Understanding the Disadvantages of Sole Trader Business Structure

When it comes to choosing what business structure is right for you, it’s important to understand the disadvantages and advantages of each structure so you can make an informed decision that’s right for your circumstances and ambitions. The business structure you choose has significant implications in terms of the amount of tax you’ll pay and therefore

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Contractor accountants

Contractors Insurance: Why You Should Protect Yourself

When you’re self-employed you face various challenges, risks and scrutiny that those in conventional employment don’t have to contend with. In addition to running your business and doing the work that you get paid for, you have the responsibility of meeting your tax obligations. To that end, working with an accountant is of great benefit to

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Cloud-Based Software & Using Online Accountants

Cloud-Based Software & Using Online Accountants

Running your own business is fast-paced, complex and often stressful when you’re spinning so many plates at once. Staying on top of your finances is more crucial than ever, particularly as your business grows. Traditional accounting methods, with their piles of paperwork and dated processes, can no longer keep up with the demands of modern businesses.

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How Much Tax Will I Pay When I’m Self-Employed?

How Much Tax Will I Pay When I’m Self-Employed?

Your tax obligations are relatively simple when you’re in conventional employment. You need to turn up for work, do your job and get paid and your taxes are deducted at source through Pay As You Earn (PAYE). But the picture is different for the self-employed. When you’re self-employed you have the responsibility of running your business

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What is an Umbrella Company?

What is an Umbrella Company?

As a contractor you have the choice to work for an umbrella company or to work for yourself, whether that’s as a limited company or personal ownership as a sole trader. Working for an umbrella company offers a degree of convenience and simplicity, in no small part due to a reduced administrative burden, but umbrella companies

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Buy To Let Property Accountants, Inflation Rates & Your Next Investment

Buy-To-Let Property Accountants, Inflation Rates & Your Next Investment

If you’re a landlord with a full portfolio of buy-to-let properties, you more than likely keep up with the latest industry news and changes that will affect you. It may come as a surprise that the most recent negative attack on landlords has come from Legal & General Investment Management – the country’s biggest investment company,

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Small Business Accountants & Growth in 2024

Small Business Accountants & Growth in 2024

As a small business, you know the challenges you face on a daily basis. You have to find your own opportunities to help your business grow. However, it has this week been announced that the UK has officially exited the recession with fastest growth in two years, which is fantastic for small business owners up and

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Navigating Ltd Company Setup

Navigating Ltd Company Setup

On May 1st 2024 Companies House introduced a raft of fee increases which included the Company Incorporation fee. If you plan on forming a limited company, you’ll now have to pay a £50 incorporation fee to Companies House rather than the previous fee of £12. Should you require a same day turnaround on your ltd company

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A Guide to Landlord Self-Assessment

A Guide to Landlord Self-Assessment

It’s not hyperbole to say that the landlord sector can be turbulent. Legislative changes continue to cause concern for landlords with the Renters Reform Bill working its way through Parliament with Royal Assent expected towards the end of 2024. The Renters Reform Bill will, to an extent, shift the balance of power towards tenants and will

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The Importance of IR35 Assessments

The Importance of IR35 Assessments

At the time of writing IR35 has been law for almost a quarter of a century. Seasoned contractors will already be familiar with the nuances and frustrations of this piece of legislation, but it can be something of a minefield for those new to contracting. Over the years there have been numerous revisions and reforms to

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The Benefits of Accountants for Oil and Gas Contractors

The Benefits of Accountants for Oil & Gas Contractors

The oil and gas industry is a dynamic, challenging and lucrative sector to work in. Oil prices are high which puts the industry on a strong financial footing and with many large multinational corporations in the sector, there’s a wide variety of roles, projects and a wealth of opportunity for oil & gas contractors. As the

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