Autumn Budget 2017 – 6 things for contractors to look out for

Autumn Budget 2017 – 6 things for contractors to look out for

in Contracting Tips & Advice, News

by
Lynne Gowers
on

Chancellor Philip Hammond will deliver the Autumn Budget on the 22nd November 2017. You wouldn’t be wrong if you are thinking “Hang on – didn’t we just have a Budget”?
Indeed, this is the second of the year for Chancellor Hammond, as he announced last time around that from 2018 there will only be one major financial statement held at the end of the year, so this month’s Budget accommodates the timetable switch from Spring to Autumn. (more…)

Get on the property ladder as a contractor – information for first time buyers

Get on the property ladder as a contractor – information for first time buyers

in Contracting Tips & Advice, General Advice

by
Lynne Gowers
on

Getting on the property ladder as a contractor presents specific challenges. Typically, high-street lenders can be wary of anyone who falls outside of their usual script, and often banks and building societies are simply not familiar with how contractors work and are remunerated.

However don’t be disheartened. There are ways and means of buying a home as a contractor. We have pulled out just a few of the options you might want to consider further. (more…)

Halloween deadline for paper self assessment returns

Halloween deadline for paper self assessment returns

in Tax Tips

by
Lynne Gowers
on

All of a sudden it’s that time of year again – firework smoke in the air, hearty casseroles and that annoying friend who already has all their Christmas presents bought and wrapped.
As Halloween creeps up on us (sorry), in accounting terms it means the first of the self assessment deadlines. (more…)

Don’t be fooled by phishing – 5 warning signs an email isn’t what it seems

Don’t be fooled by phishing – 5 warning signs an email isn’t what it seems

in General Advice

by
Lynne Gowers
on

While it’s not a new problem, it certainly isn’t one that’s going away anytime soon. We’re talking about phishing – the term used for the fraudulent practice of luring people to websites they wouldn’t normally use.

Phishing is typically carried out by unsolicited email or instant message in an app or social media platform. Its goal is to direct the user to a fake website, often in a bid to get them to enter personal details. Communications can appear to be from banks, retailers or service providers and have the look and feel of the real thing, the only difference is the website you are pointed towards. (more…)

Startup funding – what to do when the bank won’t lend to your business

Startup funding – what to do when the bank won’t lend to your business

in About Freelancing, Setting up your Business

by
Lynne Gowers
on

The number of entrepreneurs in the UK is rocketing – last year alone company formations reached a new record, with over 650,000 new businesses being incorporated during 2016*.

The vast majority of startups are small ventures launched by individuals and one of the challenges they face is getting the right funding in place early to maximise their chances of success. (more…)

Tax facts – UK residents with homes abroad

Tax facts – UK residents with homes abroad

in Contracting Tips & Advice

by
Lynne Gowers
on

Ever watch “A Place in the Sun” with a twinge of envy? Most of us dream about having a bolt hole in sunnier climes to escape to. But for those lucky enough to be in a position to make it a reality – what are the tax implications?

UK residents buying property abroad typically do so to have a holiday home, to make a rental income when they are not using it or in anticipation of retiring to their destination of choice. Among the most popular locations for Brits are Spain, Cyprus and Malta. (more…)

Identity fraud – 6 steps to protect you and your business

Identity fraud – 6 steps to protect you and your business

in General Advice, News

by
Lynne Gowers
on

New figures from Cifas, the fraud prevention service, show that identity fraud soared to almost epidemic levels in the first half of 2017, with identities being stolen at a rate of almost 500 a day.
These frauds are taking place almost exclusively online.

As an online accountancy practice, we take both our own security practices and risks to our clients very seriously. Here we look at the threats to be aware of and the steps you should take safeguard you and your business. (more…)

HMRC and the target of the phoenix

HMRC and the target of the phoenix

in Contracting Tips & Advice

by
Lynne Gowers
on

It might sound like the latest Harry Potter book, but in fact what we are talking about here is the government’s Targeted Anti-Avoidance Rule (TAAR) on winding up companies.

This rule was specifically introduced in 2016 to target “phoenixism”. This the practice whereby a limited company is wound up in order that its shareholders can receive a capital payment instead of a dividend, so reducing their tax liability. This is quickly followed by the formation of a new company, effectively “rising from ashes” of the old one, and carrying on the same trading activity. (more…)