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Much of the business news to come out since Britain took its decision to leave the EU has had a gloomy edge to it. The results of a YouGov poll released on Thursday showed that the number of businesses pessimistic about the future had almost doubled from 25% before the referendum to 49% afterwards.
Also earlier this week, the Federation of Small Businesses (FSB) urged political leaders to step up, after their small business confidence index slipped to a four-year low.
Self-employed workers, landlords and small business owners are all faced with the prospect of having to fill out four tax returns every year.
Filing accounts quarterly will bring small operations, who currently only have to send their accounts to HMRC once a year, into line with large corporations. Some believe that the extra administrative burden could be harmful to taxpayers but we believe that Umbrella.co.uk accountancy customers will fare better than most.
The plans, which were only recently discovered having been slipped into the small print of George Osborne’s Autumn Statement, will affect around four million Britons.
A survey has found that a majority of UK contractors would vote to stay in the European Union (EU) if a membership vote were held tomorrow.
The research, which was published by The Association of Independent Professionals and the Self-Employed (IPSE) last week, found that 61 percent of contractors want Britain to remain a part of the EU.
This majority outweighs the 24 percent who would vote to leave and the 14 percent who were undecided.
The LibDems have launched their election manifesto which highlights their proposed tax changes and spending plans should they gain power in the General Election.
The Small Business, Enterprise and Employment Act 2015 has received royal assent and is now therefore inforce. This is the first time an act has been passed specifically for helping small businesses.
From the 30th June, the Annual Return is changing. This document, which must be completed and sent to the Companies House at least once every 12 months, will change to become a Confirmation Statement from this date.
One of the most significant changes attached to the Confirmation Statement is the requirement for companies to publish a list of 'People with Significant Control', explained in more detail below.
A lot of small business owners put off getting VAT registered because they find it daunting. But VAT doesn’t have to be taxing. The Flat Rate VAT scheme makes it easy, and it can help boost your post-tax profits too.
The Flat Rate VAT incentive is a popular choice for independent contractors, sole traders and directors of small limited companies. Read on to find out if it is right for you as well.
How Flat Rate VAT works
The Flat Rate VAT scheme is a government incentive designed to simplify taxation and get more small businesses growing.
David Cameron has appointed his new ministers following his Party’s majority election win.
Anna Soubry becomes the new Minister for Small Business and as such a member of the Cabinet.
This is good news for contractors working through their own limited company as they will now have a Cabinet member representing their interests.
Labour have launched their election manifesto which highlights their proposed tax changes and spending plans should they gain power in the General Election.
A search of the document did not highlight any specific changes relating to umbrella companies, contractors or IR35 but there is a promise to support small businesses which could be of benefit to contractors and freelancers who operate though their own limited companies:
