Congratulations to Kirsty Bisset who is our August Employee of the Month

Kirsty’s consistently high quality and quantity of the accountancy work she churns out for Umbrella Accountants is much appreciated by clients and colleagues alike. 

Kirsty is a regular winner of our ‘Accounts Smasher of the Month’ award and has always been ready to offer advice and support to her accountancy team mates. 

Well done Kirsty for this long overdue recognition, and keep up the good work!

Contractors’ 2019 Loan Charge Settlement Deadline Approaches

Contractors who have participated in a disguised remuneration loan scheme have until 30 September 2018 to send settlement information to HMRC, or they risk paying an enormous bill in the 2018/19 tax year.

Disguised remuneration schemes are tax avoidance schemes in which participants receive income in the form of a ‘tax-free loan’, rather than traditional income.

HMRC counts this type of loan as income and says that tax is due on it. In 2017, the government introduced the ‘2019 loan charge’ to retrospectively collect tax money from disguised remuneration scheme losers.

Freelancers Feeling Inflation More Than Most
Editor | 20 September 2018
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Freelancers are feeling the latest inflation rise more than employees, according to the Association for Independent Professionals and the Self-Employed (IPSE).

The warning for freelancers came after the Office for National Statistics revealed that inflation rose by a higher than expected 2.7% in August.

Measured by the Consumer Prices Index (CPI), this was the highest monthly price increase in six months.

Jordan Marshall, IPSE’s Policy Development Manager said: “Freelancers will be especially hard hit by this jump in inflation not only because, unlike employees, they pick up their own business costs, but also because they travel more to win and work on different contracts. They will particularly feel the effect of the 13.5 per cent jump in air fares, because many of them take up contracts overseas and travel long distances in the UK.

Another Dividend Tax Grab This Autumn?

Chancellor Philip Hammond has been urged not to ‘clobber’ limited company contractors and other businesses with another dividend tax grab this autumn.

The Federation of Small Businesses (FSB) said it was concerned that the Treasury might once again cut the tax-free dividend allowance for limited company directors, to collect an extra £1.3bn in tax receipts. 

The Chancellor has already reduced the allowance from £5,000 to £2,000, a policy which took effect this April.

Now there is concern that Philip Hammond will announce a fresh raid on the dividend tax-free allowance in this year’s Autumn Statement.