blog

Your tax year-end checklist
blog
Ensure you make the most of your tax-saving opportunities before April 5th. The end of this tax year is almost upon us, so now is the time to act and ensure you’ve done everything you can to reduce your tax bill. In this blog we look at the top ten ideas to consider to ensure your money work as hard as possible for you. Make use of your £20,000 ISA allowance. Ensure your partner or [...]
Budget 2021 – what does it mean for freelancers and contractors?
blog
Although Rishi Sunak’s budget today didn’t repeal the off-payroll legislation change due in April as we might have hoped, it’s not all bad news for freelancers and contractors. With the economy expected to recover to pre-Covid level by mid-2022, the Chancellor set out his plans for supporting the recovery and subsequently recovering some of the cost associated with the pandemic. For freelancers and contractors the good news is that Income Tax, National Insurance, Annual Exemption [...]
The VAT Deferral Scheme
blog
February 11th saw HMRC announce their next COVID-19 support scheme for businesses, the VAT Deferral Scheme. Designed to help with cash flow, the scheme allows businesses to defer their VAT liabilities generated between the 20th of March and 30th of June 2020. In this blog we explore the scheme further, explain how to register, and give you other essential information. How does the new scheme work? The full deferred VAT payment was due to HMRC [...]
Your options when working inside IR35
blog
April’s IR35 reform isn’t too far away, and now is a good time to start thinking about what you’d do if you were to be found inside IR35 and the possible impact this could have on your take home pay. In this blog we give you a general overview of your options and the facts. Option one – Work under an Umbrella company If you’re found inside IR35 your best option may be to work [...]
Should you say no to IR35 contracts?
blog
April’s IR35 legislation changes aren’t too far away, and if you’re faced with a contract that’s inside IR35 what will you do? Will you reject it, challenge it, or take it? How do you know if that’s the right decision? In this blog we look at the different circumstances that might lead you to refuse an inside IR35 contract, and why you should always consult your decision with your contractor accountant. Each contract is unique [...]
How to challenge your client’s IR35 status determination
blog
From April this year, the way in which both private and public contract IR35 statuses are determined will be exactly the same. The rules for how they’re determined won’t change, but the person in charge of that decision will. In this blog we re-examine what’s changing, and how to go about challenging a client / end-hirer’s decision if you feel your status has been incorrectly determined. It’s up to the end-hirer / client It’s now [...]
Essential IR35 FAQs for April 2021
blog
Be ready for April’s changes, with our essential IR35 FAQs. First things first, what’s changing? The way in which private sector contracts IR35 statuses are determined will be brought in line with the current way in which public contracts are. So it will be the end-hirer / client’s decision on whether a contractor is ‘inside’ or ‘outside’ of IR35, and the contractor themselves is totally taken out of the process. The end-hirer / client will [...]
Taxevo’s Director, Marc Seymour to be a guest speaker at The Freelance Festival 2021
blog
The Freelance Festival is a free online event, designed for the self-employed. It gives freelancers just like you the chance to hear from other freelancers and small business owners who share their success stories, know-how and words of wisdom. The event provides a wealth of accessible online content, including how to grow your business, choosing the right tech, managing your finances and how to find your motivational mojo when things get a bit choppy. This [...]
Furlough extended until March, Job Retention bonus scrapped
blog
It has now been confirmed that the Coronavirus Job Retention Scheme has been extended until 31 March 2021. From 1 November 2020, employers can claim 80% of an employee’s usual salary while they’re in furlough, up to a maximum of £2,500 a month. Any employee that was employed and on payroll on 30 October – providing the organisation has made a PAYE RTI submission to HMRC since the scheme began in March – is eligible. [...]
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 [...]