umbrella Articles

Christmas Plans: Don’t Forget Your Self-Assessment
marketing | 6 December 2018
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As Christmas draws closer, many contractors will be finalising their plans for the festive season.

You know who is in charge of wrapping presents, what time you’re going to travel to the in-laws and who’s cooking the turkey. But you shouldn’t forget about the tax return deadline in amongst all the merriment.

After all, you only have until 31 January to complete and pay your Self-Assessment.

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.

Alison Waterhouse Wins Umbrella.co.uk Employee of the Month
marketing | 17 October 2018
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“Alison Waterhouse joined umbrella.co.uk in February this year as a Key Account Manager. She has shown that she is very self-motivated and has quickly developed a fantastic ability to develop business.

In September we saw the end of the quarter and I am pleased to say she excelled by smashing her target.

Well done on a great quarter and winning September Employee of the Month!” Dexter Dyer, Sales Director.

Missed the First Loan Charge Settlement Deadline? Don’t Despair
marketing | 3 October 2018
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HMRC is targeting contractors that have participated in disguised remuneration ‘loan schemes,’ and time is running out to avoid an enormous tax bill next year. 

If affected contractors fail to make a settlement with HMRC by 5 April 2019, any outstanding ‘loan’ tax payments could be tacked onto their 2018/19 tax bill.

Unfortunately, the first settlement deadline has already passed. HMRC had instructed contractors to register their interest in settling and fill out relevant documentation before 30 September.

BBC Presenter Forced to Use PSC
marketing | 10 May 2018
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Joanna Gosling is the latest BBC presenter to complain that the public service broadcaster forced her to operate through a limited company, exposing her to HMRC legal action.

Alongside BBC colleagues David Eades and Tim Willcox, Gosling is appealing against a £920,000 tax bill , which HMRC argues is owed in back income tax and National Insurance contributions.

HMRC claims that the presenters were within the IR35 rules and operating in ‘disguised employment’.

The court heard that the three presenters were “ pushed by the BBC ” into creating the personal service companies. These companies allowed the corporation to avoid paying employers’ National Insurance contributions and came with very few benefits.

 

East Cheshire Hospice’s Winter Dreams Ball
marketing | 5 December 2018
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By way of reward for their Employee of the Month awards in 2018, 10 members of staff enjoyed the East Cheshire Hospice’s Winter Dreams Ball on 30th November.  Everyone had a fantastic time and enjoyed the top quality food and entertainment.

We were delighted to be able to acknowledge and reward the contributions of all of our Employees of the Month over the last year, as well as offer further support to the East Cheshire Hospice who we have fundraised for as our nominated charity in 2018.

 

What expenses can limited company contractors claim

If you contract through a limited company, there are certain expenses that you can claim against your income to reduce your tax liability.

If your limited company makes £50,000 and you claim back £10,000 in allowable expenses, the taxable profit will be £40,000.

There are some rules governing what expenses limited company contractors can claim.

Making Tax Digital deadline: Time is running out for contractors
marketing | 4 October 2018
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Contractors are running out of time to comply with HMRC’s new Making Tax Digital (MTD) initiative, which requires them to keep digital accounting records and use approved software to submit tax information to HMRC.

The first MTD deadline, for limited company contractors that earn over the £85,000 VAT threshold, is just a little over six months away.

From April 2019, these contractors will no longer be able to submit their VAT return manually with HMRC’s ‘direct tools’. Instead they will have to use HMRC-compliant software like FreeAgent or Xero to keep digital records and automatically submit their VAT returns. 

 

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!

Congratulations to Charlotte Harper - April Employee of the Month

Congratulations to Charlotte Harper who is Umbrella’s Employee of the Month for April.  Charlotte has recently moved across to assist the Company Formations department which in addition to her current role has added new responsibility for welcoming our new clients to Umbrella Accountants and ensuring that they receive the best possible experience.  She has taken on the additional tasks without hesitation and has been doing a fantastic job.  Keep up the good work.  

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