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What training expenses can I claim through my limited company?
As a contractor, training is vitally important. It helps you hone your skills and allows you to source new contract work. But did you know that you can claim training back through the tax bill of your limited company? Find out what training you can claim in our article.   What type of training is a genuine company expense? As long as the training you receive is directly associated with your current trade, you can [...]
Top tips when setting up a limited company
Ltd Company
So, you have made the decision to set up a company, but what do you do next? There are several key steps to follow when forming a limited company. Here are the key things:   Name your company You will need to come up with a name for your company. This is your opportunity to put your stamp on your business and can be fun thinking up unique names. You can use the Companies House [...]
Let’s go contracting
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Take the smart approach to contracting with Taxevo. Making the jump from permanent employment to contracting can be daunting. It is important that you understand everything before making a change. That’s where we can help. We’ve written a handy guide to contracting to help you understand everything before making the move. Our guide to contracting gives you all the knowledge you need to start contracting. View our guide here.   Win an iPad! Join Taxevo [...]
Fed up with your accountant?
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At Taxevo we think we have a market-leading service promise and we are that confident that you’ll love our service that we back it up with a money back guarantee if you are not 100% satisfied. Does your existing accountant do the same? Our experience has shown us that getting the service right for an affordable price is what contractors like you are looking for. Have you experienced any of these issues with your accountant? [...]
Introducing Taxevo!
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This week sees the launch of new contractor accounting firm Taxevo. As specialist contractor accountants, our focus is on providing excellent service at an affordable price. The clear pricing structure means there are no surprises and you will always speak to a real accountant. We understand that not everyone wants to get bogged down with accounting and tax so we are here to help, providing clear advice when you need it allowing you to focus [...]
Guide to the VAT flat rate scheme
The VAT flat rate scheme is a simplified method to account for VAT charged to your clients. You only pay a fixed rate of VAT to HMRC and you keep the difference between what you charge your clients and pay to HMRC. You do not reclaim the VAT on your purchases, except for certain capital assets over £2,000. How can I join the VAT flat rate scheme? To join the scheme your VAT turnover must [...]
Guide to use of home as office
It is likely your permanent workplace will be your home and as such you can make a claim for using your home as your office. It may be that you complete fee earning work from home or simply just take care of company administration and bookkeeping. Either way you should charge your company for the use of your home. The standard fixed rate HMRC have a fixed rate of £4 per week to cover the [...]
Guide to the Cycle to Work Scheme
As an employer, you can easily implement a tax exempt loan scheme for employees. To qualify for the tax exemption, the loan of bicycles and safety equipment must be available to all employees. What's the scheme all about? Employers who purchase bicycles and safety equipment for loan to employees (up to £1,000) can benefit from treating the purchase as capital expenditure eligible for corporation tax relief. VAT can also be claimed back on the purchase [...]
Guide to the 24 month rule
As a contractor, the likelihood is that your workplace is deemed to be "temporary". If that is the case, you can claim travel and subsistence expenses during your time working at that location. How can I claim travel and subsistence expenses? You are able to claim travel and subsistence expenses if your contract is for less than 24 months.   What is the 24 month rule? Your workplace ceases to be a temporary workplace when [...]
Guide to pensions and automatic enrolment
To comply with the Pensions Act 2008, employers must operate a workplace pensions scheme and contribute towards it. This is known as automatic enrolment. If you employ at least one person, you have certain legal duties. Does automatic enrolment apply to me? Your legal duties for automatic enrolment begin on the day your first employee starts work. 1 Has a right to join a pension scheme If they ask you to, you must provide a pension [...]