7 THINGS YOU NEED TO KNOW NOW THAT YOU ARE UNDER 1R35 LEGISLATION

IR35 legislation,changes in the private sector from April 2020

NOW THAT YOU ARE CAUGHT UNDER IR35 LEGISLATION, WHAT NEXT? It is not news again that the IR35 legislation is changing from April 2020. If you would like to read about these changes you can click or watch a video kindly click In this blog post, I have explained 7 things that contractors that are […]

CLAIMING EXPENSES, REDUCING TAX AND NATIONAL INSURANCE!

Claiming Business Expenses

Claiming the right expenses are a crucial part of running a business. This is because claiming the right expenditure will result in tax relief claimed in the tax year. Therefore reducing the income tax, corporation tax and national insurance paid by the taxpayers. Why is claiming the right expenses important? The consequence of not claiming expenses or […]

HOW YOUR PERSONAL ALLOWANCE AFFECTS THE TAX YOU PAY!

Personal allowance and tax code

Personal allowance and tax band explained. The Personal Allowance is the amount of income everyone is entitled to receive free of tax each year. the amount for the tax year 2018/19 is £11,850. Every individual living in the UK is entitled to a personal allowance. If it is not fully used, then the unused allowance cannot be carried […]

ARE YOU AN EMPLOYEE OR SELF EMPLOYED?

Employed or Self Employed

Employment status key test. Who is an Employee? An employee is an individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties. Often people mix this up as they are not sure what category they are on. I have been often […]

How To Avoid Paying Too Much Tax Without Paying A Tax Advisor.

personal tax account

Personal Tax account is an important tool that HMRC uses to implement making tax digital for individuals. This account has all the information that relates to a taxpayer. Information such as their full name, their pay as you earn information, employment history from previous years. For self-employed taxpayers, it also has their self-assessment details and tax calculation. […]