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Becoming a contractor can seem daunting. Freelancing and contracting can be a fantastic idea, helping you deliver your skills in a way that is beneficial for your own work/life balance. Being freelance can allow you to spend more time with your family and even earn more money than if you were employed by someone else. […]

The National Insurance fund was introduced in England back during World War I as a way for employers and employees alike to contribute towards their own healthcare needs. However, it quickly expanded into providing support for people who lost jobs or were unable to access medical treatment because of it, which is why today’s taxation […]

Making Tax Digital also known as MTD is a part of the government’s ambition. Its purpose is to be one of the most digitally advanced tax authorities in the whole wide world. When Making Tax Digital (MTD) was first announced one unique caption caught my eye. This particular headline which was ‘Making tax easier: the […]

When you are running a business there is so much to think about. Keeping important accounting and tax dates in mind can become difficult to keep track of. There are a lot of dates but as a contractor or freelancer you need to be aware of these tax dates and deadlines, so that you don’t […]

IR35 initiated in 1999, is tax legislation whose purpose is to combat tax avoidance. They supply their services to clients through a limited company as its mediator. They are known by HMRC as “disguised employees” since these individuals act, behave and even look like employees. However, despite being on the payroll they are registered as […]

Payroll year-end can be challenging, especially for small business owners, with tight deadlines and little space for error. Year-2020 is much more complicated due to the Covid-19 pandemic’s impacts, as new reporting rules have been implemented or updated. We all know it’s getting close to the time of year when payroll must be completed. Don’t […]

New Innovations in Business During Pandemic Everyone around the world is hit hard from covid-19. This pandemic not only causes fear among people, but it has affected business badly. This pandemic has forced us to think in different ways and bring new ideas for the new environment we are in now. We need to adopt […]

Annual Investment Allowance There was no change announced for this and the last update was the extension of the AIA temporary 1 million until the end of 2021. Alcoholic Tax The extra tax on fuels and all alcohol types is frozen for the next year and the increased planning is cancelling. Mortgage Guarantee Scheme A […]

IR35 IR35 is a term that refers to two pieces of tax laws aimed at preventing employers and employees from avoiding paying taxes. You must be mindful of the updates if you are self-employed as a Contractor or Freelancer. Your customer will bear a large portion of the burden for assessing the status of IR35. […]

There is short-term support announced by the Chancellor in the budget. Rishi Sunak unveiled a package of support including extensions to the two major income support schemes, alongside extensions of universal credit, tax credits and stamp duty land tax. Support for business including restart grants, an extension of business rate relief, loss relief carrybacks being […]