by ClearwaysAccountants | Feb 3, 2016 | Pension planning, Small business advice
Auto-enrolment has reached the smallest companies… We have been asked whether a company with only directors on the payroll need to apply for a pension scheme under auto-enrolment? Generally director only companies are exempt i.e. do not have to auto-enrol the...
by ClearwaysAccountants | Jan 19, 2016 | Contractor, Self Employment, Tax Tips
Contractors in the film and TV industry work in all areas, as sound and visual engineers and other on-set services… If you are a Contractor in the film and TV business you may be better off working through your own Limited company rather than working through...
by ClearwaysAccountants | Nov 27, 2015 | Contractor, Freelancer, Self Employment, Small business advice, Tax Tips, VAT
A common problem for small businesses… Late payments create cash flow problems for small businesses and this can lead to debts with HM Revenue & Customs. According to the latest figures, VAT arrears are currently £2.58 billion. Most companies pay VAT on the...
by ClearwaysAccountants | Nov 25, 2015 | Budgets and Autumn statements, Business tax, Contractor, Freelancer, Self Employment, Small business advice
A generally upbeat speech by the Chancellor… See our separate blogs on travel and subsistence expenses and buy-to-let changes. The economy is growing and this is good news for all businesses but particularly small businesses and start-ups. There are many...
by ClearwaysAccountants | Nov 25, 2015 | Budgets and Autumn statements, Contractor, Freelancer, IR35, Pay, Expenses & Benefits, Tax Tips
The Chancellor has listened! In the Summer Budget the Chancellor announced a review of the deduction for tax of travel and subsistence for employees working at temporary workplaces. If the Chancellor had gone ahead and stopped this expense being deductible for tax...
by ClearwaysAccountants | Nov 25, 2015 | Budgets and Autumn statements, Capital taxes, Landlords, Tax Tips
The Chancellor is hitting buy-to-lets and those who are thinking of purchasing a buy-to-let hard… In the Summer Budget he announced reductions in the amount of mortgage interest payments that can be deducted against your rental income. This plan remains...
by ClearwaysAccountants | Nov 17, 2015 | Contractor, Freelancer, Self Employment, Small business advice
Join the campaign Thousands of small and medium-sized enterprises (SMEs) in the UK, currently more than 35,000, are joining the campaign against recent changes to the taxation of UK dividends, which come into effect next April. Serena Humphrey, a Nottingham based...
by ClearwaysAccountants | Nov 12, 2015 | Contractor
Why is it difficult to get a mortgage as a contractor? It can be very difficult to get a mortgage as a contractor due to the nature of your working pattern. This is because you are unlikely to have a consistent monthly income, and may take several long breaks or...
by ClearwaysAccountants | Oct 20, 2015 | Pension planning, Tax Tips
Beware if anyone approaches you offering to help you release the cash in your pension! Intelligence gleaned from interviews with fraudsters, currently serving time, show that they are rubbing their hands in glee at the opportunities the new pension freedoms provide...
by ClearwaysAccountants | Oct 14, 2015 | Contractor, Freelancer, Personal tax, Self Employment, Small business advice
Could court fees stop you receiving tax justice? Any taxpayer who disputes a ruling from HMRC can appeal the decision to a tribunal. The tribunal system is independent of HMRC and both HMRC and the taxpayer have argued and won cases at the tribunal. The...
