This article was published in our News section on 21/03/2014.

Some Guides you may be interested in

• A Contractor's introduction to Director's Loans 09/01/19There may be a time when you need to loan money to or borrow money from your own Limited Company. Director’s loans are wrapped up in fiddly bits of legislation. When borrowing cash from your company, care must be taken. You must ensure that you fully understand the tax implications before you take any kind of loan from your business.
• What do you do if you receive a letter from the HMRC Let Property Campaign? 09/01/19So you've received a letter from HMRC’s Let Property Campaign? Happy New Year! From my experience, your initial reaction is likely to be one of the following......
• A contractors guide to VAT 08/01/19Value Added Tax (VAT) is a standard consumption tax levied on almost all goods and services in the UK. If you’re a contractor, working through your own Limited Company, registering for VAT could significantly improve your tax efficiency.
• Off-payroll working in the private sector - a contractors guide 30/11/18IR35 is a tax legislation used to distinguish between employees and genuinely self-employed contractors. Last month we compiled a comprehensive guide to IR35. Now, we take an in-depth look at how the ‘off-payroll working’ rules, introduced to the public sector in 2017, will be extended to medium and large-sized businesses in the private sector from April 2020.
• Valid expenses you could claim as a landlord 30/11/18Are you a landlord? Maybe considering a new home, and letting out your current property? Maybe you’re working abroad for a while, and renting your home to make ends meet? Before you take the plunge (or even if you took it years ago), this article aims to help you make the most from your rental income.
• A guide to expenses for Contractors 13/11/18As a contractor, working through your own limited company, one of the main benefits available to you is the ability to claim business expenses. Claiming expenses correctly can reduce your tax bill, it’s a vital part of running your company tax efficiently.
• 7 reasons you could have the wrong Tax Code 08/11/18Your Tax Code tells your employer how much tax to take off your pay. What if your code is wrong? In the past 4 years, 1 in 3 employed taxpayers have been overcharged tax because their employer has received the wrong code from HMRC!
• IR35 - A contractors guide for 2018/19 15/10/18IR35 is a complex piece of legislation used to distinguish between true self-employed contractors and employees. As a contractor, it’s important that you have an awareness and understanding of IR35 to ensure that you’re paying the correct amount of tax and National Insurance. Here’s a definitive introduction to IR35 to help you understand how it works.
• Making Tax Digital for Landlords 12/10/18There's every chance that you are not yet aware of Making Tax Digital (MTD). However, if you are a landlord with rental income - (that's income, not profit) – greater than £10,000 annually then you should be. MTD is the biggest shake up to the UK tax system since the advent of Self-Assessment in the 1990s. And it affects you, from April 2020 at least.
• Contractors - LTD Company v Umbrella? 14/09/18What are the benefits for contractors of setting up a Limited Company vs Umbrella Company? Read our guide, see how much you could take home in each setup.

More from our News section

• £100 fine if your Self Assessment return is late. 31/01/15
• Main tax talking points of todays Autumn Statement. If you are closing a house sale, wait until tomorrow! 03/12/14
• The 2014/15 tax free allowance is £10,000 and not £10,500 21/03/14
• Summary of 2014/15 budget changes 20/03/14
• End of 2013/14 Tax Year planning- Use your Allowances to reduce your tax bill. 11/02/14
• Fears that many parents to be hit by fines due to Child Benefit 08/01/14
• Contractors - Ltd Company v Umbrella 16/10/13
• 10 things you need to know about running your own Payroll 01/10/13
• October deadline for Parents liable for Child Benefit Charge 10/09/13
• HMRC gives late tax return offenders a chance to catch up 03/09/13