The so called IR35 Legislation came into force in the UK in April 2000. It seeks to tax freelance workers providing services via their own limited company. Its stated aim was to prevent employees setting up a limited company and performing their duties through that company with the resulting tax advantage. Generally it is more [...]
Accountants come in all shapes and sizes, both good and bad. To many people they are a necessary evil but a good accountant can add value to your business and help you sleep at night. But how do you find the right one for you? The first step is to accept that you need an [...]
Taking out a pension does not guarantee you a comfortable retirement. You have to pay enough into it to make it worth while. How much you need to pay in will depend on what type of pension scheme you are a member of and also whether you are self-employed or not. You can pay as [...]
Yesterday was Midsummer Day here in the Northern Hemisphere – and the weather? Rain, more rain, violent storms and high winds! Yes, 21st June was the “longest day” of the year. Well, it was 24 hours long just like all the others, but I suppose it’s called the longest day because it has more hours of [...]
Gordon Brown is a serial offender. Master of the U-turn. And every time he does turn he blames other people for the financial chaos he has caused. We all know about the debacle over the abolition of the 10p tax rate and the criticism heaped on Gordon Brown. Rightly so. He only has himself to [...]
Capital Gains Tax (CGT) is a levy which may need to be paid when you sell certain types of asset, such as residential or commercial property, stocks and shares or other investments such as antiques, artwork – paintings, sculptures - and cars. Strictly speaking only individuals pay CGT but companies don’t escape as any gain they [...]
Corporation tax is the tax paid by companies on their profits. Unincorporated organisations (such as clubs and societies) also pay corporation tax, if they have taxable income. Partners in both traditional and limited liability partnerships and sole traders pay income tax instead. Companies are taxed on the profits made in an accounting period – normally [...]
