by ClearwaysAccountants | Apr 19, 2013 | Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
Do you dread keeping your business records? Nothing is set-in-stone so you can keep your business records in the way that suits you best. If you want to use an accounts book and hand write your accounts that is just fine. Spreadsheets and accounting systems make life...
by ClearwaysAccountants | Apr 15, 2013 | Business tax, Contractor, Freelancer, Small business advice
RTI easement – what a relief! HMRC have seen sense and given small businesses an easy introduction to Real Time Reporting (RTI). If you have fewer than 50 employees you can file your information with HMRC when you complete your normal payroll run but no later...
by ClearwaysAccountants | Mar 7, 2013 | Contractor, Freelancer, Pay, Expenses & Benefits, Personal tax, Self Employment, Small business advice
Cars provided by employers to their employees are taxable benefits-in-kind. This is true whether you are an employee of a FTSE100 company or a director/employee of your own single person limited company. A reminder – how is the company car benefit calculated?...
by ClearwaysAccountants | Mar 1, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax Tips, VAT
The Flat Rate Scheme was developed to make VAT administration easier and can also save your business money especially if you are trading as a contractor or freelancer. Most contractors will pay 14.5% of their VAT inclusive turnover to HMRC with a special rate of 13.5%...
by ClearwaysAccountants | Feb 23, 2013 | Business tax, Contractor, Freelancer, Self Employment, Small business advice, Tax Tips
What are dividends? Dividends are another way of taking money out of your company (the other ways you can take money out of the company are: salary, reimbursement of expenses and a company loan). Who can receive a dividend? Dividends are paid to the owners of the...
by ClearwaysAccountants | Feb 13, 2013 | Contractor, Personal tax, Small business advice, Tax Tips
Details of your new tax code During January, February and March this year, HM Revenue & Customs (HMRC) will be sending out new tax codes for 2013-14. You should never ignore post from HMRC and it is in your interest to check your new tax code. Your new tax code...
