Tag: IR35


All You Need to Know About IR35 for the Private Sector

There is still consultation ongoing, but it remains realistic that on 6th April 2020 IR35 will be implemented in the private sector. It will be a game-changer as the government anticipates to increase its taxation and NIC.

How Contractors can avoid IR35 in the Private Sector

Contractors must work out how much tax and National Insurance they must pay. So, if a contractor is caught not paying enough, the punishment is to pay 25% more in tax per annum. So, it is within their best interest to avoid this.

Contractors Tax Issues

Contractors Tax Issues – A How to Guide

If you’re on the lookout for a new accountant to handle your tax affairs and need to ensure you find just the right fit for the job, read our tips on how to find the financial whizz you need, allowing you to get back to the important job of running your business.

Accountants for contractors

Accountants for contractors – How we can help

We as accountants for contractors can help you to maintain your accounts, adhere to policies and help you to get a good picture of your finances. We can also help you file tax returns and respond to any queries from HMRC, taking a weight off your shoulders.

Tax Planning NHS Doctors and Consultants

Accounting and Tax Planning for NHS Doctors and Consultants

One major issue for doctors working on a locum basis is that because of the rotation schedule you adhere to, there may be issues with your tax code. This is a basic part of figuring out what you have to pay, but all the same, it’s understandable if a busy professional isn’t able or just doesn’t want to think too much about their taxes!

HMRC Fraud Investigation Service
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HMRC Fraud Investigation Service – Code of Practice 8

If you are found to have done nothing wrong, you will be informed that the investigation has been completed and no further action will be taken. You may be susceptible for repeat investigations in subsequent years if further suspicious tax data is received.

IR35 Accountants Approach

IR35 Accountants Approach

If you consider how many contractors work for a major public sector body like the NHS, then the logistics of such a task are unfathomable. Most public sectors teams lack the necessary experience and understanding of case law to make a reasonable decision.

Employment Benefit Trusts Tax Avoidance Schemes
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Employee Benefit Trust – The Story Behind

The main purpose of an EBT is to reward and incentivise employees, who in turn are keen to see the company fare well, and yield the rewards at a later date. This can include the granting of share options, or cash payments to beneficiaries.