The ins and outs of contracting and jury service

The ins and outs of contracting and jury service

in Contracting Tips & Advice

by
Lynne Gowers
on

The Boox Marketing team is one man down this week, as one of our number has been called up for jury service. So we thought it a timely opportunity to look at what’s involved if you are called to attend for jury duty as a contractor.

Any UK citizen can be called for jury service – participants are selected at random from the electoral role. Once you receive a jury summons form, you have a legal obligation to attend. (more…)

A Guide to Crowdfunding and Taxes

A Guide to Crowdfunding and Taxes

in General Advice

by
Lynne Gowers
on

Crowdfunding has become something of an online phenomenon of our age. It works on the principle of securing financial backing from large numbers of small investors, rather than relying on injections of capital from larger investors or a bank loan. (more…)

Is there a single solution to my retirement, tax and business planning objectives?

Is there a single solution to my retirement, tax and business planning objectives?

in Guest Blog

by
Lynne Gowers
on

The answer may well be yes, argues Simon Green, a consultant with wealth management specialists Mattioli Woods.
SIPPs (Self Invested Personal Pensions) and SSASs (Small Self-Administered Schemes) have existed since the 1980s to deliver flexible solutions to meet your retirement, tax and business planning objectives.
The crucial thing to remember in pension planning is that any existing plan you may have could be failing to meet your needs.  (more…)

Are you covered? Our essential guide to business insurances

Are you covered? Our essential guide to business insurances

in General Advice

by
Lynne Gowers
on

Most of us have various types of insurance policy for our homes, cars, pets and for when we travel. In all these aspects of our everyday lives we hope for the best, but insure for the worst. The same should go for business insurance.

Whether you are a limited company contractor, freelancer or small business, it makes good sense to mitigate risk by having appropriate professional insurances in place.

Here is our guide to the essentials. (more…)

Making charitable donations through your business

Making charitable donations through your business

in Tax Tips

by
Lynne Gowers
on

Most of us have causes that are close to our hearts and if you are running your business as a limited company, you can factor in donations to charity as part of your overall tax planning strategy.

When you give to charity through your limited company, you will pay less corporation tax by deducting the value of your donations from your business profits. The most you can deduct is the amount that reduces your company’s profits to zero. (more…)

Be a self-assessment earlybird – the benefits of filing your tax return early

Be a self-assessment earlybird – the benefits of filing your tax return early

in Contracting Tips & Advice, General Advice

by
Lynne Gowers
on

“Never do tomorrow what you can do today. Procrastination is the thief of time”  Charles Dickens

Of all the things that folk tend to put off to the last minute, tax returns must be high on the list. Over last financial year, the Boox tax team filed over two thousand self-assessment tax returns, the majority in the run up to the January 31st deadline.
But while it’s tempting to leave it to the eleventh hour, there are lots of reasons to get your self-assessment done and dusted early in the year. (more…)

Public Sector IR35 changes – fact and fiction

Public Sector IR35 changes – fact and fiction

in Contracting Tips & Advice, Freelancing News

by
Lynne Gowers
on

Major tax changes for limited company contractors in the public sector come into force from today (6th April).

Company directors can no longer decide and declare for themselves the IR35 status of their contract. This decision is now the responsibility of the public sector body they are working for.
Additionally, responsibility for making the necessary deductions is now that of the “fee payer”, ie. the party paying the limited company, which may be a recruitment agency, employment intermediary or public sector body. (more…)

App Update: IR35-caught  in the public sector

App Update: IR35-caught in the public sector

in Boox Developments

by
Dan Blake
on

If your public sector contract is determined to fall within IR35, then the way that you enter information in the Boox app will change.

Your fee payer, (either the public sector client if you contract directly with them, your agency or a company you and your agency contract with to make the deemed payments), will be responsible for calculating the deemed payment on your invoice income, for paying the PAYE (Pay As You Earn tax) and NIC (National insurance Contribution) liabilities to HMRC and for reporting the deemed payment as salary through RTI (Real Time Information). (more…)