by ClearwaysAccountants | Jul 9, 2013 | Pension planning
“Liberate your pension”? Be warned! According to The Times newspaper a growing number of people are being conned out of their pension pots by unscrupulous financial advisers (The Times – 25 June 2013) More and more workers under 55 are being...
by ClearwaysAccountants | Jun 25, 2013 | Business tax, Contractor, Freelancer, Self Employment, Tax Tips
What is the 24 month rule? The 24 month rule states that the cost of travel from your home (being your permanent place of residence) to your contract client address (your temporary workplace) is only allowable as a tax deductible expense for as long as you believe...
by ClearwaysAccountants | Jun 20, 2013 | Pension planning, Tax planning, Tax Tips
At Clearways Accountants we have had a couple of enquiries about pensions recently. We set out some figures and examples on the new pension regime in our blog on pensions last year. This blog considers your options. Some definitions are given at the bottom of the...
by ClearwaysAccountants | Jun 17, 2013 | Business tax, Contractor, Freelancer, IR35
What are the changes to IR35 legislation for directors and office holders from 6 April 2013? An office holder in company law means either a director or company secretary. Under tax legislation earnings from an office are taxed as employment income and are generally...
by ClearwaysAccountants | Jun 7, 2013 | Client case studies, Contractor, Freelancer, IR35, Self Employment, Tax planning, Tax Tips
A potential client (lets call him Andy) had found Clearways Accountants through the Professional Contractors Group accredited accountants scheme. Andy wanted an accountant with start-up knowledge and experience in IR35. He was concerned over the tax he was paying...
by ClearwaysAccountants | May 31, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax planning, Tax Tips
The cost of buying a garden office and fitting it out is expensive and can be a major outlay for a smaller business. A garden office is treated for accounts and tax as a capital asset (and not as a business expense). Capital assets purchased for your business,...
by ClearwaysAccountants | May 28, 2013 | Business tax, Client case studies, Self Employment, Small business advice, Tax planning, Tax Tips
A number of people have asked how we help with a business start-up so I thought it would be best to illustrate with a client case study. Neill was interested in setting up his own business, he wanted to work for himself and he had seen a furniture range that he liked...
by ClearwaysAccountants | May 23, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
If your business has outgrown the spare room and you are looking to expand then one of your options is setting up an office in your garden. There will be another blog to follow this one, that will cover the business tax position. What about VAT? If your company or...
by ClearwaysAccountants | May 11, 2013 | Contractor, Self Employment, Tax Tips
Have you been made redundant recently? Are you over 50 and struggling to get interviews? It can be really difficult when you have been made redundant to find work when you are over 50. Employers want experience and skills but don’t want to feel you will walk...
by ClearwaysAccountants | May 5, 2013 | Business tax, Pay, Expenses & Benefits, Small business advice
If you pay benefits to your yourself as a director/employee of your own limited company or to employees you may need to complete a P11D at the end of the tax year. What is a ‘benefit’? Common benefits given to employees are medical cover, company cars and...
