The likelihood is, you have either arranged your accountant to do your self-assessment tax return, or, you have decided to submit it yourself. If you have not completed your tax return yet, there is still time but we recommend getting a move on. If you have already completed it, sit back and enjoy some of…
The 2014/2015 self-assessment tax return deadline is fast approaching. Hopefully you are on top of your paperwork and it has already been submitted to HMRC. If you have not completed or are in the process of completing your self-assessment tax return, please get in contact with your accountant urgently. Missing the deadline on 31st January…
Last months Autumn statement and the recent draft Finance Bill revealed that contractors working through an intermediary, such as an umbrella, will not be able to claim Travel and Subsistence expenses for ordinary commuting. This is unless they can demonstrate and provide evidence on the lack of Supervision, Direction or Control. It means that most,…
Now that December has arrived, there is no hiding from the fact that Christmas is less than 4 weeks away. As the build-up intensifies, days seem to get shorter as schedules become packed with shopping trips, social gatherings and last minute jobs. As 2015 draws to a close, there are many treats to look forward…
Cloud9 Umbrella is excited to have been put forward for the ContractorUK Reader Awards 2015. Please vote for us in the category “Best Umbrella Company”. Winning such a prestigious award would be an excellent way to end a thoroughly enjoyable and successful 2015. Please note that voting has now closed. We will keep you informed…
Despite much speculation, there was little detail regarding the restriction on travel and subsistence expenses, and a revision of IR35 in Wednesday’s Autumn Statement – the government will release more information on 9 December. All we know, is that changes on 6 April 2016 will affect workers engaged through an umbrella company, and individuals working…
More often than not, you’ll find discussions and reasons as to why you should move from an umbrella to a limited company. But we thought we’d discuss the reverse, because sometimes, the arrangements of working through a limited company, no longer make sense for the position you are in. So why might you consider switching…
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…
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…
Have you heard a variety of claims about IR35 that seem to make sense but you’re just not sure if they’re true? We’ve rounded up a few common IR35 myths we’ve heard and want to debunk them for you. The legislation is complex as it is without these IR35 myths and assumptions being added to…
It’s been just over a year since the Criminal Finance Act (CFA) was introduced 30th September 2017, which saw companies become criminally liable for any facilitation of tax evasion and tax avoidance schemes by any persons representing the company, and a recent Tax Journal has proposed that HMRC is ‘chomping at the bit to investigate.’ After…
We’ve all heard the old adage ‘if it’s too good to be true, then it probably is.’ A minority of contractors are still getting caught up in schemes that are offering 85-95% take home pay. These may not be all that they seem. HMRC is continuing to focus their attention on reducing the number of…