self employed Articles

A New Contractor’s Guide to Getting Paid in 2019
marketing | 26 November 2018
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Is your New Year’s Resolution to start working for yourself? You aren’t alone.

January is one of the busiest times for new company registrations as skilled workers target the money and freedom that can come with contracting.

But setting up isn’t easy. There are a lot of things to think about and if you plan your contracting journey properly now, you can save yourself several headaches down the way.

Employment Status Tax Simplification

On 3rd March 2015 the Office of Tax Simplification (OTS) issued its report headed “Employment Status Report”. The aim of the report was to tackle the complexities in deciding whether a person was employed or self-employed for tax purposes and the issues on employment rights particularly for the low paid.

marketing | 17 February 2015
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Ed Balls has received controversy for saying we should always get a receipt when paying cash-in-hand for a job, however small. He is quoted as saying he always gets a receipt even when paying £10 for having his hedge cut.

Whilst it would be great for all of us if everyone paid their fair share of tax, it is not that simple and unfortunately it is often the case that people are happy to pay cash if it means they can get a job done cheaper.

HMRC Travel & Subsistence
Sarah | 6 May 2016
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HMRC has been forced to issue revised guidance to contractors engaged through employment intermediaries after it made a drafting error in the travel and subsistence rules. 

Why Introduced:

So HMRC can tackle Employment Intermediaries that use false self-employment and offshore locations to reduce taxes and avoid employment rights.

HMRC want to know amounts paid to workers supplied by the Employment Intermediary where PAYE has not been deducted.

If you are self-employed or a sole trader it is important that you keep a record of all your business income and expenses in order that you can complete your annual tax return. You also need to keep a record of other income you receive i.e. bank interest, dividends etc.