by ClearwaysAccountants | Nov 25, 2017 | Budgets and Autumn statements, Contractor
Thankfully dull! That’s our summary of the Autumn budget. A number of proposals were raised in the press such as lowering the VAT registration threshold and changing IR35 but none have come to pass – at least not yet. So what was said? The personal...
by ClearwaysAccountants | Nov 16, 2017 | Contractor, IR35
New data shows impact of the change… Figures released show that locum pay has jumped by 6.3% since HMRC changed the person responsible for making the IR35 assessment. The NHS has not made an effort to review contracts with individuals but has insisted that temps...
by ClearwaysAccountants | Sep 20, 2017 | Contractor, Pension planning, Tax planning
If you work through your own limited company, you can claim tax relief through pension contributions and build your own personal pension. There are two ways of making contributions to your pension fund: personal and company pension contributions. Personal pension...
by ClearwaysAccountants | Sep 7, 2017 | Contractor, Pension planning
There is a savings crisis in the UK and it is estimated by Canada Life, the insurance company, that about 10 million British workers will be forced into taking later retirement. It’s also a worsening picture, with the number of people expecting to have to work longer...
by ClearwaysAccountants | Aug 23, 2017 | Contractor, Pay, Expenses & Benefits, Pension planning, Setting up a Business, Small business advice
Auto-enrolment feels as if it has been around for years now, and for large employers it has been. The smallest companies are now reaching their staging dates – so what do you need to know or do? Check whether you are an employer? It is possible that you were...
by ClearwaysAccountants | Aug 16, 2017 | Contractor, IR35
The new legislation for public sector contractors came into place on 1 April 2017. What does this mean for you? The “old” rules required the contractor company to assess the contractual and working relationship between the end client and the worker...
by ClearwaysAccountants | Jul 12, 2017 | Business tax, Contractor, Self Employment, Setting up a Business, Tax Calculators
We have updated our contractor tax calculator for the 2017-18 rates and allowances. Those of you that have read our blog on HMRC programming difficulties will know that the income tax calculation is getting more complicated and harder to programme into a simple...
by ClearwaysAccountants | Jun 14, 2017 | Contractor, Personal tax, Small business advice, Tax planning, Tax Tips
Tax planning with interest income The taxation of interest income is getting very complicated with both a Savings Starting Rate Band (“SSRB”) and a Personal Savings Allowance but this complication also bring opportunities. So how is interest taxed at the...
by ClearwaysAccountants | Jun 7, 2017 | Contractor, IR35
The NHS backs down… The NHS have backed down in an argument with locums over the forced application of IR35 to medical staff. NHS Improvement gave advice to all NHS Trusts stating that they expected all contractors to fall within IR35 and therefore agency...
by ClearwaysAccountants | May 31, 2017 | Contractor, Small business advice
Personal tax is now too complicated for HMRC technicians! HMRC have admitted that the new dividend allowance and the dividend tax makes the personal tax calculation too complicated for the HMRC software programmers to write. But you cannot rely on other software...