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Tax Code: What do the letters and numbers mean?
- September 18, 2017
- Posted by: admin
- Category: Contractors, Tax
No CommentsWhat do the letters and numbers mean? Most tax codes have a series of numbers followed by a letter, which let your employer know the value of your personal allowance for the current tax year, and any special circumstances which will affect how much tax is deducted from your income. If you multiply the number
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Can you claim a suit as a business expense?
- July 10, 2017
- Posted by: admin
- Category: Contractors, Expenses, Uncategorized
Generally clothing can’t be claimed if it has any resemblance to typical everyday clothing. Clothing that can be claimed includes: Protective clothing, if relevant to the business, such as: Helmets Steel toe cap boots Body armour Protective suits High visual wear Overalls Specialist clothing, if relevant to the business, such as: Performers costumes Uniforms Clothing
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NHS make IR35 U-Turn!!
- June 28, 2017
- Posted by: admin
- Category: Contractors, Uncategorized
IR35 U-turn by NHS NHS Improvement has revised its position on IR35 and will now allow trusts to determine IR35 status on a case-by-case basis, after admitting that its original stance was “not accurate”. From 6th April 2017, public sector contractors providing their services through limited companies can no longer determine the IR35 status of
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Payments on Account: How does it impact the contractor in 2016/17
- April 10, 2017
- Posted by: admin
- Category: Business Growth, Contractors, Expenses, Finance & accounting, Tax
Payments on account are where the taxpayer pays 50% of the following years personal tax at the same time they settle their current year’s liability (in the case of the 16/17 tax year this payment will be due by 31 January 2018). There is also a second payment on account due by 31 July for