As the end of the year approaches, it is a special moment to reflect upon the achievements of the past year. With that in mind, we are pleased to inform that both K&B Accountancy Group and Cloud9 Umbrella have been nominated in the ContractorUK Awards for the Best Contractor Accountant (Small/Medium) Award and Best Umbrella…
So Philip Hammond has now released his Autumn Statement 2016, his first as Chancellor; and it has come as little surprise that the contracting industry will be significantly impacted after the announcements made on Wednesday 23rd November. Although the Chancellor did not vocalise these changes during the speech itself, there are a number of proposals…
As we are now just a month away before the holiday season starts, our sister company K&B Accountancy Group experts answer the most commonly asked questions about festive and annual event expenses for contractors with their limited company: Q. Can my limited company claim festive or annual party as deductible expenses for corporation tax purposes?…
Simon McVicker, Director of Policy and Public Affairs: This Autumn Statement promises to be the defining moment for the new May Government. Chancellor Philip Hammond will have to outline his vision for the UK economy post Brexit. Intrinsically Philip Hammond is considered a more fiscal conservative than it seems Mrs May is after her interventionist…
Winter is coming, and so is another HMRC deadline. The government introduced the Onshore Employment Intermediaries legislation in April 2014 to stop the use of false self-employment models where workers and employers may be avoiding paying tax and where the employer also avoids their other employment responsibilities. For the period 6th July to 5th October,…
Since the public sector reform in April 2017, we are still asked frequently by public sector contractors if they should continue using their own limited company or switch to an umbrella. The answer very much depends on each individual’s circumstances thus we would strongly encourage contractors to speak to us for tailored advice. Nonetheless, we…
It has been a turbulent year for contractors, especially those who work within the public sector and have been hit by the introduction of the “off-payroll” reforms in April. Now a storm of risky umbrella firms are luring temporary workers with promises of higher take-home retentions in a bid to sidestep the tax crackdown that’s…
If you’re a contractor and a new role comes up through a recruitment agency you will probably want to use an umbrella company to manage your PAYE needs. You may have used an umbrella company previously or you might have just checked an income calculator to find an umbrella company with the best deal. Either…
The latest IR35 tribunal case win for contractor Susan Winchester has been penned as a ‘game-changer’ for the industry. After a year-long battle, Winchester successfully won over £4000 in compensation for holiday pay from HMRC, after being placed as inside-IR35. Background In September 2016, Winchester’s company, SJW Marketing Solutions Ltd, was contracted by HMRC…
The 2019 Loan Charge is HMRC’s next step in their crackdown on tax avoidance. They aim to recover unpaid taxes they deem to be owed by thousands of contractors who have used a disguised remuneration scheme. HMRC will be looking to collect payment for retrospective taxes from any individual who has used a disguised remuneration…
The outlook of the job market in 2018 continues to look promising for contractors. Vacancies, billings and pay rates remain encouraging, persistently growing throughout December and into the New Year. According to recruitment agencies surveyed for the REC/IHS Markit Report on Jobs, the introduction of new projects and a greater demand for short-term workers contributed…