by ClearwaysAccountants | Apr 3, 2013 | Business tax, Self Employment, Small business advice, Tax Tips
From April 2013 a new system of reporting payroll data to HMRC will come into force. What is Real Time Reporting? If you run a payroll, either as an employee of your own small limited company or as a self-employed trader with staff then Real Time Reporting (RTI) will...
by ClearwaysAccountants | Mar 20, 2013 | Budgets and Autumn statements
Political overview More doom and gloom from Mr Osborne this afternoon. The Government is still borrowing massive amounts of money and growth is almost non-existent. The Government is looking to reduce department budgets so for contractors and small businesses working...
by ClearwaysAccountants | Mar 7, 2013 | Contractor, Freelancer, Pay, Expenses & Benefits, Personal tax, Self Employment, Small business advice
Cars provided by employers to their employees are taxable benefits-in-kind. This is true whether you are an employee of a FTSE100 company or a director/employee of your own single person limited company. A reminder – how is the company car benefit calculated?...
by ClearwaysAccountants | Mar 1, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax Tips, VAT
The Flat Rate Scheme was developed to make VAT administration easier and can also save your business money especially if you are trading as a contractor or freelancer. Most contractors will pay 14.5% of their VAT inclusive turnover to HMRC with a special rate of 13.5%...
by ClearwaysAccountants | Feb 23, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
What are dividends? Dividends are another way of taking money out of your company (the other ways you can take money out of the company are: salary, reimbursement of expenses and a company loan). Who can receive a dividend? Dividends are paid to the owners of the...
