by ClearwaysAccountants | Feb 16, 2016 | Business tax, Personal tax, Tax planning
How can Google pay such a small amount of tax? Google have been hitting the headlines for all the wrong reasons over the last few weeks. The question is, “How can such a large organisation pay so little tax in the UK?” PAYE and National Insurance Remember...
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...
by ClearwaysAccountants | Oct 5, 2015 | Contractor, Freelancer, Personal tax, Self Employment, Small business advice
It is 10 years since HM Revenue merged with HM Customs – so how is it going? Some figures: HMRC collected £505.8bn in 2013-14 HMRC headcount has been cut by 40%, so the move to digital has been a great success for revenue collection and reporting. Freeing up...
by ClearwaysAccountants | Mar 20, 2015 | Business tax, Contractor, Freelancer, Pension planning, Personal tax, Self Employment, Small business advice, Tax planning, Tax Tips
The income tax 2014-15 year end is fast approaching. Make sure you make all the claims and elections you are entitled to before it is too late. Personal tax The final date for 2010/11 claims that that have a four year time limit. These include claims for: personal...
by ClearwaysAccountants | Mar 19, 2015 | Business tax, Capital taxes, Contractor, Freelancer, Personal tax, Self Employment, Small business advice, Tax Calculators
Mr Osborne stated that this Budget, “backs small business owners and the self-employed”. In our view nothing of any significance has changed. The items that caught our eye for our small business clients were: Pension funds (again) The lifetime allowance...
by ClearwaysAccountants | Jan 22, 2015 | Business tax, Contractor, Personal tax, Self Employment, Small business advice, Tax Calculators
Attached is a spreadsheet that compares your tax home cash for your income as an employee and as a contractor working through your own Limited company. The first sheet is a summary but you must enter data onto the second and third sheets. The second sheet calculates...