Leading contractor tax adviser, Qdos Contractor has welcomed news today that The NHS has revised its decision to place all locum and contractor staff inside IR35. In ‘Working through intermediaries: IR35 update’, released today (30/05/2017) The NHS reveals they had ‘anticipated that providers would need to ensure that all locum, agency and bank staff were
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Tag Archive for Accounts & tax
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Five vital accounting tips for small business owners
by Ben Lobel • • 0 Comments
The life of a business owner is jam packed with ups, downs, mistakes and advice you wish you’d known from the start. Fortunately for you, the following five accounting tips — from bookkeeping to hiring a small business accountant — will prevent future financial mishaps. The rise of small businesses hasn’t been subtle, with smaller
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UK firms in the dark when it comes to R&D – and its costing them big
by Owen Gough • • 0 Comments
OK, so here’s a question for you all. What have UK microbreweries testing new flavours of IPA, restaurants experimenting with innovative dishes, financial advice firms creating bespoke CRM systems to improve the client experience, and local taxi firms developing proprietary online booking systems to compete with Uber, got in common? Answer: they’re all – almost
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HMRC tax investigations: Eight reasons HMRC might audit your business
by Ben Lobel • • 0 Comments
HMRC tax investigations are not an experience the average business owner wants to endure. HMRC tax investigations are expensive, time-consuming and stressful, lasting 16 months on average and costing roughly £5,000 in accountancy fees. They are almost a nightmare scenario; often not because you’ve actually done something wrong, but simply because you’ll be forced to
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Why it is costing UK companies to be in the dark about R&D
by Ben Lobel • • 0 Comments
OK, so here’s a question for you all. What have UK microbreweries testing new flavours of IPA, restaurants experimenting with innovative dishes, financial advice firms creating bespoke CRM systems to improve the client experience, and local taxi firms developing proprietary online booking systems to compete with Uber, got in common? Answer: they’re all – almost
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Cash flow in business: Can your company afford to pay you?
by Ben Lobel • • 0 Comments
Cash flow in business is extremely important, however many people entering a new business or indeed, that have existing businesses, do not understand the significance of this statement. If you rely upon your accountant to put together your financial plans without understanding them, then this can lead to disaster. It is important to use an
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Bookkeeping tips for the gig economy
by Ben Lobel • • 0 Comments
The rise of the gig economy has led to some confusion regarding how to define employment vs. self-employment, and this has a bearing on the bookkeeping tips small business owners should follow. The lines between the two traditional forms of work have blurred in some instances, as some companies may employ you on a self-employed
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Digital tax switch: How SMEs can ease the transition to digital taxation
by Owen Gough • • 0 Comments
Think back to 2008 — the Olympics were in Beijing, Barack Obama was elected president of the United States and the UK began its digital TV switchover. This switch saw the UK’s terrestrial television converted to digital while analogue channels, broadcast from thousands of transmitter sites, were turned off. First announced in 2005 and finally
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Self employed tax adviser: A career roadmap
by Ben Lobel • • 0 Comments
Stepping out on your own, regardless of what career choices you have made, can be a daunting task for most parties. You remove yourself from the known security of the office workspace, to place yourself in an environment that, while governed and run by you, is still an unknown. Despite the fact that it can
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Tax affairs and image rights – lessons to be learned from footballers
by Owen Gough • • 0 Comments
Recent cases involving the tax affairs of top-flight football clubs, international professional footballers and issues surrounding taxation of their ‘image rights’, reinforce the importance of careful planning if investigations by HMRC are to be avoided, tax specialist Simon Littlejohns warns. The Head of Tax at Birmingham-based Chartered Accountancy practice, Friend Partnership Limited, Simon Littlejohns says,
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