blog

Working from home? What expenses can you claim?
blog
Since the start of COVID-19 working from home has gone from being a bit of a taboo subject to the norm, with many (if not all of us) now working from home. So you’re going to start to incur some costs, but as a freelancer or contractor, are any of them claimable? In this blog we reveal what you can and can’t claim for, and why if you’re unsure it’s always best to check with [...]
blog
On September 24th 2020, Rishi Sunak announced that the government will cover up to two thirds of workers' wages if their hours have been reduced due to the coronavirus pandemic. It is hoped that the ‘Jobs Support Scheme’ will help to reduce the millions of job losses expected when the furlough scheme ends on October 31st 2020. Announced as part of a wider Winter Economy Plan in the Commons this afternoon, Sunak also covered other [...]
blog
With many people furloughed, COVID-19’s lockdown has had many revaluating their professional skills and whether there’s more they can do to enhance their skill set. Contractors will want to be an attractive candidate for clients once things return to normal, and may therefore be considering updating their skills. But before you take on a new training course, who will foot the bill? In this blog we explore what you’re able to claim for when it [...]
blog
The government today announced what they refer to as their next step in rebuilding the economy. Their focus is very much around preventing unemployment whilst gradually stopping the furlough scheme, boosting the hospitality sector and kick starting the housing market. The measures announced are: Furlough bonus £1,000 bonus for keeping furloughed staff until January 2021 – Employers who have furloughed staff up until June 2020 will be given a £1,000 bonus per employee in January [...]
blog
As a freelancer you might well have multiple apps and resources you use to manage your business. Bringing them all together to work seamlessly could prove a challenge. At Taxevo we partner with FreeAgent to provide you access to their online platform for managing your business finances. Here we take a look at some of the other services that integrate with FreeAgent. Banking The first key integration with FreeAgent is your business bank account. It [...]
blog
For the 2020/2021 tax year, tax allowances and rate bands have, in the main, remained the same. In this article, we demonstrate what that means to freelancers and contractors in real terms, and offer our advice for trading as tax-efficiently as possible. 3 ways to trade tax-efficiently for 2020/2021 Use the optimum salary levels for 2020/21. There are two main scenarios for salary levels. In the majority of cases, the salary level should be: £12,500 [...]
blog
With Covid-19 (Coronavirus) having a massive impact on businesses across the UK, it’s understandable that our Limited Company freelancers and contractors are keen to understand the business support measures that have been announced by the Government. We’ve created a guide to all of the measures that can be read here, and below you can read the answers to most frequently asked questions that we are getting from our clients: Can I claim the self employed business [...]
blog
Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There is a distinction in law between a director with a service contract and a director with an employment contract although we believe the statement below is intended to cover all directors. This was announced as [...]
blog
This guide covers all of the business support measures announced by Rishi Sunak in March and is being updated as and when new initiatives are launched or changes are made to existing ones. Please bookmark this page to keep up to date. Last updated 17th August 2020: Additions to Grants for the self-employed Contents Coronavirus Job Retention Scheme Local authority discretionary grants Grants for the self-employed Bounce back loan scheme Ban on evictions for commercial [...]
blog
Sunak delivers Budget to meet ‘challenging times’ Chancellor Rishi Sunak delivered his first Budget, and the first since the UK’s departure from the European Union, against the backdrop of the coronavirus outbreak. The Chancellor announced a £30 billion stimulus package to support the economy through coronavirus contagion and pledged to give the NHS whatever extra resources are needed to cope. Following the news that the Bank of England had reduced interest rates to 0.25%, in [...]