Blogs

Step Guide to Reduce IR35 Risks

What is IR35? IR35 legislation applies to individuals who supply their services to the clients via their own limited company also known as personal service company (PSC). The legislation states that any contractor that is a disguised employee should...


Tax Implications Outside IR35

IR35 is a UK tax legislation. It is formulated to close the loophole in the tax system, where workers could use a setup of limited company to pay less tax. If the relation between the end client and the worker is of self-employment rather than employ...


Why Outsourcing payroll pays off?

Managing a recruitment agency is a time-consuming task. It involves a whole lot of processes such as dealing with the clients, placing the right candidates, administrative work and the list goes on. Recruitment Payroll is a complex task, it is not ju...


Pensions for the self-employed

Saving pension often can be difficult for a self-employed compared to an employed person. There is no one who can choose pension scheme for you, no employer contributions and irregular income patterns which can all make savings difficult. The earlier...


How much tax should I pay as a contractor?

Here, we are talking about tax year 2019/20. It totally depends on whether you are operating as a limited company or working through an Umbrella company. When you start contracting via your own company you will be liable for a number of business taxe...


Do I Qualify For Entrepreneur’s Relief?

Entrepreneurs relief means you’ll pay tax at 10% on all gains on qualifying assets. It reduces the amount of Capital gains Tax (CGT) payable when you dispose of shares in all or part of your business or liquidate your company. If you are selling a...


Can Contractors Claim For Meal Allowance?

If you work through your own limited company, this reduces the amount of tax your company pays. Since 2017, the corporation tax rate is 19% so the reduction is worthwhile. You can include every eligible business expenses in your annual accounts which...


National Minimum Wage

In an unknown farm located at an unnamed place, a farmer was planning to fence his big land which ran into acres. The farmer knew that the task was quite cumbersome and would require additional help, so he drafted an advertisement to hire three work...


Time-Saving Apps For Contractors

The history of humankind tells us that as the Homo sapiens began to spread and increase their numbers so also did their desire to simplify their ways of working. They realized many things, and among those moments of conscious awakenings, a sense had ...


Umbrella Companies- A New Business Force

What is an Umbrella Company? Putting it in simple words, the functional role of an umbrella company for contractors is that it acts as an employer for all the contractors under its folds and provides services of these contractors to the end clie...