by ClearwaysAccountants | Apr 24, 2014 | Tax planning
One of Britain’s largest providers of tax avoidance schemes has closed for new business, according to The Times newspaper. Future Capital Partners had acted for some high profile names such as Sir Alex Ferguson but the company has lost a series of court cases in...
by ClearwaysAccountants | Apr 17, 2014 | Contractor, Freelancer, Self Employment, Small business advice, Tax Calculators
Our tax calculator for 2014-15 has been updated and is now live on our calculators page. Click on tax calculator2014-15 if you want to see how much tax you will pay trading as self-employed or through a limited company. To take a look at all our calculators, go the...
by ClearwaysAccountants | Apr 10, 2014 | Business tax, Contractor, Freelancer, Pay, Expenses & Benefits, Self Employment, Small business advice, Tax Tips
The taxable benefits are very high for the private use of a company car; and the benefit charge keeps going up even though the car loses value. For example A car with a list price of £25,000 and CO2 emissions of 175g/km creates a taxable benefit of £5,750 (23% of...
by ClearwaysAccountants | Mar 26, 2014 | Contractor, Freelancer, Small business advice
The nitty, gritty. Preparing the numbers The heart of a business plan will be the financial analysis. Even if you are not an accountant you can prepare the financial analysis providing you can use Excel and are methodical. Before thinking about the numbers you need...
by ClearwaysAccountants | Mar 17, 2014 | Contractor, Freelancer, Self Employment, Small business advice, Tax planning
As a freelancer starting out in business on your own, you may have felt unsure about the potential success of your new business venture… You may well have started out as self-employed – it is easy to register with HM Revenue & Customs and then you are...
by ClearwaysAccountants | Feb 24, 2014 | Contractor, VAT
Contractors have little to worry about with VAT. Their accountant has (or should have) registered them under the flat rate scheme and will prepare the quarterly VAT returns based on the company’s sales invoices. What is self-billing? Normally in a commercial...
by ClearwaysAccountants | Feb 18, 2014 | Client case studies, Small business advice
The Secret Dress House Bridal is a new wedding dress shop in Reigate, selling and fitting beautiful wedding gowns to brides-to-be with all their accessories. Clearways Accountants were asked to complete all the tax and accounting for this new business. VAT Obtaining a...
by ClearwaysAccountants | Feb 10, 2014 | Contractor, Freelancer, Pension planning, Self Employment, Small business advice
What is auto-enrolment? Auto-enrolment is a new obligation imposed on employers by the Goverment to help employees save for their retirement. Which employees qualify for auto-enrolment? Employees must: Earn above the earnings threshold £9,440 (2013-14 personal...
by ClearwaysAccountants | Feb 3, 2014 | Capital taxes, Personal tax, Self Employment, Small business advice, Tax planning, Tax Tips
Who wants to pay tax? Well no one if it can be legally avoided! So what steps can you take before 5 April 2014 to reduce your capital gains tax bill? Use the annual exemption This may sound obvious but if you can select a few investments to sell that just use up your...
by ClearwaysAccountants | Jan 23, 2014 | Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
From 6 April 2014 employers can offset up to £2,000 per income tax year (6 April 2014 to 5 April 2015) of employer’s national insurance. I’m a single person contractor company, will I qualify? In short, yes. Almost all employers will qualify, the...
