HMRC’s next tax target: private tutors
HMRC has been running numerous schemes over the last few months to narrow what it calls the 'tax gap' - the gulf between the actual amount of tax paid by UK citizens and corporations and the actual amount owed. Last year the tax gap stood at a not-insignificant £39 billion.
Free Limited Company formation with GoLimited.co
Forming a Limited Company can be a shrewd move for the budding contractor. Not only can it give your business an added sheen of professionalism, it can pay dividends (quite literally) in terms of better tax efficiency, meaning you get to take home more of the money you earn, with less being syphoned off by...
Company incorporations on the up, says Companies House
Last week Companies House, who, like so many other Government bodies, have begun to use social media to communicate with their public, tweeted some interesting figures.
IR35 and AWR – separated at birth?
Contractors concerned with their IR35 status or their employment situation once AWR comes into force in October have been handed a small sliver of clarity, however many questions remain unanswered.
Business Link helpline opening this November
Business Link, the Government's soon-to-be-shuttered enterprise advice service, has announced they will be launching a business advice hotline on November 25th to replace the face-to-face meetings the service previously offered.
“Starting Out Contracting” – downloadable guide for new Contractors
There's nothing we like more than seeing more people start contracting, and to that end we've produced a downloadable guide.
AWR, Umbrella Companies and the “Swedish Derogation”
Come October there are some big changes coming for Contractors working through Umbrella Companies. The Agency Workers Regulation (AWR) is being brought into effect across Europe in an attempt to protect so-called "vulnerable workers" who do short-term or contract work through agencies.
Banks on course to miss small business lending targets
Back in February the Government decided to require that the UK's biggest banks - namely Lloyds, RBS, Santander, HSBC and Barclays - to commit to lending £19 billion to small and medium-sized businesses in the first quarter of 2011.
Another victory for Contractors in lengthy IR35 case
Earlier this year there was a major victory for contractors and opponents of IR35 as a tribunal ruled in favour of contractor Mark Fitzpatrick, who had been the subject of a seven year investigation by HMRC for disguised employment. Now a second long-running IR35 case has been settled in favour of the contractor, dealing another...
Banks offering £450m in discounted loans for small businesses
There was good news for the nation's small businesses yesterday as two of the UK's biggest banks - RBS and Santander - announced that they have secured £450 million from the European Investment Bank for the specific purpose of providing low-rate loans to businesses with under 250 employees across the UK - and of course...
Time To Pay sees fall in applications, rise in rejections
HMRC's Time To Pay scheme, which allows small businesses to delay settling their tax obligations in order to weather short-term cash shortfalls, has seen a huge fall in applications since the comparable period last year.
Sample Contracts for Contractors
If you're thinking of starting out contracting, one of the most crucial things to put in place is actual contracts. Without a water-tight contract you could be putting an awful lot at risk. You put yourself in a dangerous position should your client not decide to pay, and you could stray into the muddy waters...
