by ClearwaysAccountants | Dec 17, 2014 | Budgets and Autumn statements, Business tax, Capital taxes, Freelancer, Self Employment, Small business advice, Tax planning
Changes on the rules when you transfer your freelance business to a company To date, a freelancer carrying out a trade could transfer his or her business to a Limited company. The business built up over the previous few years could be valued, not only are the...
by ClearwaysAccountants | Sep 28, 2014 | Business tax, Contractor, Small business advice, Tax planning, Tax Tips
Can your spouse work for your contractor Limited Company? In short, Yes! Your spouse can receive a salary for the administration work they do for your contractor Limited Company. The work need not be difficult and your spouse does not need to be a full-time employee....
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 | Jul 15, 2013 | Business tax, Client case studies, Contractor, Self Employment, Tax planning, Tax Tips
Gordon contacted Clearways Accountants when he realised that he should no longer trade as a self-employed IT provider. His company had already been formed and he was happy to do the bookkeeping, complete the VAT Returns and run his payroll himself. Initially Gordon...
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 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...