Ltd Company

Your options when working inside IR35
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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?
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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
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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
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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 [...]
Furlough extended until March, Job Retention bonus scrapped
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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?
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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 [...]
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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 [...]
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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 [...]
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 [...]