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Directors’ Tax Returns Not Compulsory

For too long now HMRC have been telling directors of limited companies that they have a duty to register for Self- Assessment and file tax returns annually. This advice is contained in the Government guidance notice on

P11D Filing Deadline Imminent

Employers have until 6th July 2017 to file their returns of expenses and benefits for 2016/17, i.e. forms P11D. Form P11D(b) which doubles as the employer declaration and statement of total Class 1A NIC due for the year, must also be submitted by that same date.For those wh...

The UK’s £2.4 trillion Protection Gap

There is currently an estimated ‘protection gap’ in the UK of £2.4 trillion, with Income protection accounting for £200 billion per annum. There are a number of reasons for this gap; it is often the perception that life insurance is expensive, lack of awareness and ‘it wo...

Contractor Expenses – Parking

Q. I'm an electrical apprentice on 10k a year. I drive to work everday and pay for secure parking. I dont get any expenses from my company. Is it possible to claim back any of this expense.A. As you are an employee, you are unable to reclaim any associated costs of travelling...

Seconds Out

HMRC has recently updated their guidance to making a disclosure under the Second Incomes Campaign.The campaign is open to individuals in employment who have an additional untaxed source of income, to bring their tax affairs up to date and secure more favourable penalty term...

A Fair Copp

Three members of the Copp family, who ran umbrella payroll company Quality Premier Services (QPS) based in Rickmansworth, previously Central Payroll Specialists (CPS), have been handed a combined prison sentence of 27 ½ years for defrauding HMRC of more than £45 million in VA...

Contractor Opinion: Which contractor issues do you want to see the new Government tackle first?

With the general election on the 8th June resulting in a hung parliament and the ongoing instability of Brexit; political uncertainty looks set to continue.PM Theresa May looks to join forces with the DUP - a Northern Ireland party known for their socially conservative valu...

Issues with Free Corporation Tax Filing

From 17th April 2017, HMRC’s free PDF-based Corporation Tax (C.T) return software was replaced with a new online service that can only be used by unrepresented companies, clubs and charities with straightforward tax affairs. Only C.T returns for accounting periods ending on o...

File Early to Budget Efficiently

The normal Self-Assessment time limit for individuals filing their 2017 tax returns is 31st January 2018. That, however, is the final date for submitting that return to HMRC otherwise a penalty will be incurred. Returns can, of course, be filed at any time up to 31st January an...

The UK’s most claimed upon condition – Heart Attack

In the upcoming weeks, our articles will be looking at and talking about various critical illness conditions, the causes and how to reduce the chances of diagnosis. This week we will be talking about heart attacks.We all like to relax after a hard week at work and maybe enjoy...

NHS IR35 malpractice

NHS Improvement, the health service regulator has recently released a document to providers entitled ‘Working through intermediaries:  IR35 update’.The document seeks to redress the practice of viewing all contractors as falling inside of IR35 for the purposes...

A contractor’s home is his office

Many contractors, because of the nature of their business, choose to operate from home. As such, it should be possible to establish a claim for tax relief on part of the home expenses.It is important to put in place a formal rental agreement between the company and the dire...

Am I required to work through an umbrella company?

Q. I am an independent educational psychologist. up until now (I started working independently in 2008) I have been told that I need to be set up as a limited company for agencies and local authorities to want to hire me. Now I am being told I need to be joining an umbrella compa...