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On Your Bike

An Employment Tribunal recently ruled that Maggie Dewhurst, a 29 year old bicycle courier, was not genuinely self-employed but rather a “limb worker” and therefore entitled to basic worker rights.Dewhurst had been delivering for same day courier company CitySprint UK Lt...

Treasury Committee Calls for MTD Delay

The House of Commons Treasury Committee has recently published its report on Making Tax Digital (MTD), which calls for a delay in the implementation of MTD and for mo...

Running a limited company, financially viable?

Q. I am a contractor employed by an agent working in a local authority. I pay myself through a Limited Company. After April If I am deemed to be inside IR35 I understand I will have to pay the same tax and NI as a permanent employee. My question is, if I end up being inside IR35,...

Public Sector IR35 Investigation

Q. My last contract was in the Public Sector and I was subject to an IR35 investigation which I passed as both my contract and working practices were outside of IR35. HMRC stated they would not perform another IR35 investigation in the next 3 years if my working practices did not...

EBT and Contractor Loan Schemes

Q. It seems clear that hmrc are pushing ahead with their drive to make contractors who used EBT and contractor loan schemes liable for tax they see as owing, with the 2018/2019 tax year when they demand payment. Many (ex) contractors, who entered these arrangements in good faith,...

Life & Critical Illness Cover Inheritance Tax

In a recent survey, we found that as many as 6 out of 10 life & critical illness polices were not protected against the possible inheritance tax charge (written in trust), which would mean 40% of the payout above the threshold would be paid in tax.This is particularly c...

New Year, New Penalties

As a new year dawned, the likes of accountants, bankers, lawyers and other advisors who enable offshore tax evasion entered it with the prospect of tough new sanctions; designed to create a level playing field for the majority of people and businesses who play by the rules....

Not so inspired VAT advice

As a general rule, when a business is de-registered for VAT, it is effective from the day such a request is made, provided de-registration is valid. Traders wishing to cancel their VAT registration for any time other than at the point of application will be knocked back. Retros...

Public Sector IR35 Rules: Am I liable?

Q. I’m hoping you can help. As you will be well aware new off-payroll rules will come into effect in April for contractors operating within the public sector. I am a contractor operating my own Limited company engaged through an employment agency. I send a timesheet to the end ...

Tax Year in Review 2016

A happy New Year to all of the Contractor Weekly readership and one can only hope that 2017 is kinder to freelancers, in tax terms, than the outgoing year was. With the introduction of the off-payroll rules from April 2017, for those working in the public sector, however, this ...

Please excuse me

For those of us who are less organised, perhaps prone to procrastination or always leave things to the last minute, we nevertheless have to turn our attention to the annual task of filling in our Self Assessment tax return and ensuring it gets to HMRC by 31st January to avoid a...

What will 2017 bring for contractors?

The year just gone brought more than its fair share of upheaval to contractors and to the future of the UK economy. The public sector IR35 reforms and Brexit alone are quite enough to cause concern. Contractors will rightly feel as though they’ve been targeted unfairly, and if ...

What has Arnold Schwarzenegger got to do with Contractor CVs?

An article by Matt Craven, Founder of The CV & Interview Advisors and Personal Branding expert.

I’m not a huge fan of the Terminator films but I’m led to believe that the machines had taken over the world and good (or bad) old Arnie was sen...