IR35 is the tax legislation designed to stop individuals, whose working arrangement reflects employment, from paying less in tax when providing their services to clients through their own limited company. Due to its complexities, and the fact that many factors need to be considered when deciding whether a contractor should be classed as a self-employed individual or an employee for…
There have been major changes to ‘Making Tax Digital’ that were announced by HMRC on 13th July 2017. The scheme was due to go live from April next year however, this has been put back because of feedback that HMRC received. The accounting profession, Parliamentary bodies, businesses and several accounting software providers felt that there…
Trying to decide the best VAT scheme that suits your business best can be a bit of a headache so hopefully, the following pointers will be of use. If you just want to submit your VAT return once a year then ‘Annual Accounting’ is the scheme for you, you will have to make 10 equal…
The truth is, all businesses, self-employed individuals and landlords will be required by law to start using the digital tax service and it is going to be phased in from 2018. HMRC wants to help businesses to get their tax right and have more clarity of what your tax liability will be. So, from April…
