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Contractor Mortgages: Proving Historical Income

Q. Can I still get a mortgage if I'm on my first contract and have only been trading for 8 months through my Limited company? A number of high street lenders have rejected my application and have told me that I need a minimum of 2-3 years accounts.A. The simple answer to this...

Public Sector Guidelines: Academy Trusts

Q. I am a consultant working in schools on daily rate contracts either with LA controlled schools or with schools in Academy trusts. I work through my own limited company with contracts normally brokered by recruitment agencies. With the change in IR35 will I be inside or outside...

Public Sector Options

Q. In view of current changes, what are the options for locum doctors? How safe and legal are your options?A. With regard to the public sector guidelines which take effect from 06 April 2017, the options will depend on the position your end client wishes to adopt. Initially i...

Contractor Mortgages: Right to Buy Scheme

Q. I need a contractor mortgage for a right to buy property, I have had it valued and the council has made the offer and I have a month left to confirm with them who my broker is. Is this something you can help with.A. At Freelancer Financials we have an excellent relationshi...

Public Sector – Exempt From New IR35 Rules?

Q. I work as contractor in the public sector under a Limited Company structure through an agent. I send my timesheet to a local authority (LA) who in turn sends it an employment agency who then pay me. My contact is with the agency and they in turn have a contract w...

IR35 in the Public Sector – Increase Your Fees?

Q. IR35 and Public Sector. I am currently contracting in the Public Sector with the strong chance of renewal and looking at all my options. Which seems to be moving to the private sector in April (with increased competition with all public sector contractors doing t...

PI Policy: IR35 Status

Q. If my PI policy requires sign off of the following statement, surely it weakens the IR35 status?: "All work is carried out at the reasonable instruction of, and s...

IR35: Committing to One Client

Q. My wife works as a part time Doctor Locum providing non-vatable GP services to local Clinics. She tends to work a few hours a week and her life is based around our young kids that require school/nursery drop offs. She has recently liked one particular Clinic that has offered h...

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,...

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 ...

Accountant’s Responsibilities

Q. At the moment 'accountants' have a legal duty to ensure the PSC are complying to money laundering legislation. Considering the changes in the IR35 legisation; from April 17 is there any legal requirement to ensure that the 'accountant' we take on to do our accounts; are paying...