by ClearwaysAccountants | Oct 15, 2013 | Contractor, IR35
The substitution clause is the most easily understood of the three key criteria that will determine whether your limited company contract is caught by IR35 or not. What are the key questions to ask when you read the contract? Is there a right to send a substitute? Is...
by ClearwaysAccountants | Oct 3, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
(E)xempt Supplies, Year End, Zero Rated Supplies (E)xempt supplies Not really X! X is really tricky!!! See the A-Z blog: E is for… for information on exempt supplies. Year end This the end of the period for which your accountant will draw up your accounts and...
by ClearwaysAccountants | Sep 27, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
Wear and Rear Allowance and Wages Wear and tear allowance Income from furnished lettings is part of the taxpayer’s rental business. Generally the same rules apply as for other lettings. But where a taxpayer lets a residential property furnished, capital...
by ClearwaysAccountants | Sep 23, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
Value Added Tax (VAT) and Venture Capital Trusts Value Added Tax VAT or sales tax applies to almost all goods and services and the majority are subject to VAT at 20% (the standard rate). Some sales (or supplies in the jargon) are exempt from VAT. See our earlier...
by ClearwaysAccountants | Sep 12, 2013 | Personal tax, Tax Tips
At Clearways Accountants we are often asked by employed clients to check their PAYE Notice of Coding as they do not understand what it is telling them. Your PAYE Notice of Coding tells you your tax code. Your tax code tells you how much tax free income you will...
