by ClearwaysAccountants | Mar 26, 2014 | Contractor, Freelancer, Small business advice
The nitty, gritty. Preparing the numbers The heart of a business plan will be the financial analysis. Even if you are not an accountant you can prepare the financial analysis providing you can use Excel and are methodical. Before thinking about the numbers you need...
by ClearwaysAccountants | Mar 17, 2014 | Contractor, Freelancer, Self Employment, Small business advice, Tax planning
As a freelancer starting out in business on your own, you may have felt unsure about the potential success of your new business venture… You may well have started out as self-employed – it is easy to register with HM Revenue & Customs and then you are...
by ClearwaysAccountants | Feb 24, 2014 | Contractor, VAT
Contractors have little to worry about with VAT. Their accountant has (or should have) registered them under the flat rate scheme and will prepare the quarterly VAT returns based on the company’s sales invoices. What is self-billing? Normally in a commercial...
by ClearwaysAccountants | Feb 10, 2014 | Contractor, Freelancer, Pension planning, Self Employment, Small business advice
What is auto-enrolment? Auto-enrolment is a new obligation imposed on employers by the Goverment to help employees save for their retirement. Which employees qualify for auto-enrolment? Employees must: Earn above the earnings threshold £9,440 (2013-14 personal...
by ClearwaysAccountants | Jan 23, 2014 | Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
From 6 April 2014 employers can offset up to £2,000 per income tax year (6 April 2014 to 5 April 2015) of employer’s national insurance. I’m a single person contractor company, will I qualify? In short, yes. Almost all employers will qualify, the...
by ClearwaysAccountants | Dec 29, 2013 | Contractor, Freelancer, IR35, Self Employment
The three key requirements in a contract that will fall outside IR35 are: a good substitution clause, see our earlier blog a lack of control, see examples; and finally a lack of “mutuality of obligations” What is mutuality of obligations? If you are an...
