by ClearwaysAccountants | Jul 11, 2018 | Contractor, IR35
The press have given a lot of column inches to the problems the BBC and BBC presenters are having with IR35 but a recent decision at the tax tribunal shows that the era of the personal service company is far from over. In this case the contractor company provided...
by ClearwaysAccountants | Jun 28, 2018 | Business tax, Contractor, Personal tax, Tax Tips
With changes in the personal allowance, basic rate band, NI threshold and dividend allowance, it is easy to lose track of whether a director working in their own service company would be better paying a larger salary compared to small salary and dividend. Let’s...
by ClearwaysAccountants | May 15, 2018 | Contractor, Tax Calculators
We have updated our tax calculator so you can see how much tax you and your company will pay depending on how you take money out of your contractor company. The old calculators will stay on the website so you can compare year-on-year Download the new tax calculator...
by ClearwaysAccountants | Apr 18, 2018 | Contractor, Pay, Expenses & Benefits
Employer-provided childcare voucher schemes were due to close to new entrants after 5 April 2018. However, the Government has recently announced that this deadline will be extended by six months, to October 2018. Existing employer-supported childcare schemes are being...
by ClearwaysAccountants | Apr 4, 2018 | Contractor, IR35
The BBC should have reviewed contracts under IR35 As reader of this blog will know, the Government did not change the rules on IR35 in April 2017 but did change who has to make the assessment. All public sector bodies were included in this new measure,...
by ClearwaysAccountants | Mar 7, 2018 | Landlords, Pay, Expenses & Benefits, Tax planning, Tax Tips
Taxation of rental property income From 6 April 2017 mortgage interest is no longer fully deductible as an expense against property income. Gradually over the next four years the amount of interest deducted against income is reducing and instead relief is obtained at...
by ClearwaysAccountants | Jan 10, 2018 | Contractor, Pay, Expenses & Benefits, Tax Tips, VAT
When you incur VAT on European business expenses you cannot reclaim the VAT through your UK VAT return. So what can you do? If you meet the requirements you may be to reclaim the EU VAT through the UK VAT portal. Those conditions are: You must be VAT registered in the...
by ClearwaysAccountants | Dec 28, 2017 | Contractor, Self Employment
A guest blog by CMME As we enter the final month of 2017, we take a look at what the new year could bring for contractors and the self-employed. With a number of important changes scheduled to take place, we examine five things you really should start thinking about...
by ClearwaysAccountants | Dec 13, 2017 | Contractor, Pension planning
Beware pension crooks! According to recent reports, MP’s are to look into the effects of the pension freedoms introduced two years ago by George Osbourne. The new pension freedoms allowed you to cash in your pension pot once you reached the age of 55....
by ClearwaysAccountants | Dec 2, 2017 | Contractor, Setting up a Business, Small business advice
A guest blog by marketing consultant Sarah Orchard – Orchard Marketing Associates One of the most fundamental things you can do when starting a small business or planning to grow your existing business is knowing who your ideal customers are and being as focused...