Submitting your self assessment tax return on time is vital for contractors and freelancers operating through Limited companies. Missing the UK tax return deadlines can lead to significant penalties, interest charges, and even the risk of a tax investigation. Planning ahead will not only save you money but also reduce [..]

With the countdown to Christmas in full swing, it means we’re also closing in on the party season. Workplaces up and down the country will be preparing to don paper hats and let their hair down at the Christmas do. It is also a good time to refresh yourself on the rules regarding the tax aspects of staff parties. The Annual Party The majority of businesses utilise their £150 per employee exemption on the Christmas party [..]

Contracting has become very popular among the UK professionals as they strive for more flexibility and short-term contract opportunities. A contracting role allows people to maintain an improved work-life balance. Instead of working full-time and with a repetitive routine, freelancers and contractors have the ability to [..]

If you are operating as a contractor or freelancer, the term “IR35” may be one which you have heard banded around without realising its significance and the consequences of being caught by the rules. What is IR35? IR35 was introduced in 2000, and in a nutshell the rules are designed to prevent employees working artificially as contractors through a limited company or an agency in order to reduce their tax and national [..]