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Self-employed pension plans: which type is right?
Just 18% of an estimated 4.5 million self-employed people in the UK are contributing to self-employed pension plans. If you’re not one of them, perhaps it’s time to pick the right option and start...
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Penalties for understating your Income: know the consequences
The penalties for understating your income can be significant. If you understate your income on your self-assessment tax return you may leave yourself vulnerable to prosecution – so make sure you...
View ArticleVAT Flat Rate Scheme Made Easy
What is it? A simplified 16.5% VAT flat rate scheme for small businesses has been introduced in the 2016 Autumn Statement. The VAT flat rate scheme, or FRS, is an attempt to simplify the VAT...
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Coming Soon: Tax-Free Childcare For Contractors!
Tax-Free Childcare For Contractors Tax-free childcare for contractors and the self-employed was announced way back in 2013. Though little has been said since the announcement, it is expected to kick in...
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Building Relationships in the Area of Accountancy
Accounting relationships Sorting out taxes requires the right level of capable and dedicated work. Before finding the perfect person that will deliver the necessary level of analytical expertise, it is...
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Going digital with your taxes: everything you need to know
The promise of a transformed tax system by 2020 is moving forward, so it’s time to make sure you’re fully confident of the facts about going digital with your taxes. In an increasingly...
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Common invoicing mistakes: how to avoid looking unprofessional
You’ve finished a project, and now it’s time to send out the invoice and receive your hard-earned cash. But there are some common invoicing mistakes that many contractors fall foul of. Don’t forget,...
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Claiming expenses if you’re self-employed: the dos and don’ts
Whether you’ve been self-employed for a long time or are just starting out with your own company, staying on top of your finances is vital to ensuring the success of your business. Although it might...
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Choosing a contractor accountant: five things to consider
When you make the decision to set up a limited company, one of the first things you should do is seek the services of an accountant to help you deal with the financial side of your business. Although...
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Operating through an umbrella company: what you need to know
Contractors and freelancers have many ways they can work. When you are self-employed, the most common options are to work as a sole trader or to set up a limited company, and then you can invoice your...
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