by ClearwaysAccountants | Sep 21, 2016 | Business tax, Contractor, Pay, Expenses & Benefits, Personal tax, Tax Tips
When is dividend tax payable? All contractors should now be aware of the tax that will be payable on dividends. The new tax regime commenced on 6 April 2016 and dividends falling outside the dividend allowance will now be taxed at 7.5%, 32.5% and 38.1% depending on...
by ClearwaysAccountants | Sep 7, 2016 | Contractor, Pay, Expenses & Benefits, Tax planning
Contractor Loan Schemes and HMRC HMRC have featured contractor loan schemes in their Spotlights series. “Spotlights” are the schemes that HMRC have looked at and determined that (a) they don’t like them; and (b) they don’t work. As a result...
by ClearwaysAccountants | Aug 3, 2016 | Contractor, Pay, Expenses & Benefits, Small business advice, Tax Tips
Did you know you might qualify for £500 of medical help? If you are off work with medical problems your employer may be able to pay £500 tax-free and NIC free to the employee to pay for help in getting back to work. This applies to contractor companies as well as...
by ClearwaysAccountants | Jul 20, 2016 | Client case studies, Self Employment, Small business advice, Tax planning, VAT
Kemp Marketing Limited have been a client of Clearways Accountants for a few years now. Kemp Marketing, through their director/shareholder provide marketing strategy and assistance to smaller sized business who are not large enough to have an internal resource but...
by ClearwaysAccountants | Jul 7, 2016 | Contractor, Freelancer, Pay, Expenses & Benefits, Self Employment, Small business advice
Out with the old When employees expenses are re-imbursed, even when they are business expenses they should be disclosed on the annual P11D. This didn’t apply for mileage at the 45p (or 25p rate). To avoid this paperwork companies could apply for a dispensation...
