Our Blog

Home/Our Blog
Our Blog2019-09-17T17:01:13+01:00

Claiming interest on buy-to-let mortgages as a contractor

By |October 10th, 2019|Categories: Blog, Contracting|Tags: , , , |

Anyone who has rental property or works in tax will know about the relatively recent changes HMRC have made to how landlords are allowed to claim the interest on their mortgages. See below: % of Mortgage Interest can be deducted from profits % available as a basic rate deduction Prior Years 100% 0% 2017-18 75% 25% 2018-19 50% 50% 2019-20 [...]

Top tips for getting a mortgage when self-employed

By |September 30th, 2019|Categories: Blog, Top Tips|Tags: , , , , |

According to HomeLet’s Rental Index, the average rent in the UK is £941 per calendar month. Many people see this as ‘dead money’ - going straight into the landlord’s pocket, with little benefit for them. If you’re one of the thousands of people who decide to purchase their own home each month, as an independent contractor you may be concerned [...]

Charging interest on late payments

By |September 22nd, 2019|Categories: Blog, Finance|Tags: , , , , |

According to the Federation of Small Businesses (FSB), late payments by clients causes 50,000 small businesses to go under each year. This is estimated to cost the UK economy £2.5 billion. For contractors and freelancers, the personal cost of late-paying clients can be more damaging than the financial cost. Worrying about cash flow and late payments is one of the [...]

Grants and loans available to contractors

By |September 17th, 2019|Categories: Blog|Tags: , , , , |

Small businesses including contractors and freelancers have become a driving force in the UK. The latest figures by IPSE – the Association of Independent Professional and the Self Employed, puts the number of self-employed at 4.8 million, who contributed £275 billion to the UK economy in 2018. If you’re desperate to leave your job to join the growing ranks of [...]

Thinking about changing your company car? Why waiting until 2020 could be a good idea

By |September 10th, 2019|Categories: Blog, Top Tips|Tags: , , , , |

If you’re a contractor who is thinking of purchasing an environmentally friendly company car through your limited company, due to the car benefit changes, you may be better off waiting until 2020 to do it.   Tax on company cars Instead of using their personal car and reclaiming the mileage allowance relief, some contractors choose to purchase a car through [...]

How to improve cashflow in your contracting business

By |September 3rd, 2019|Categories: Blog, Finance, Top Tips|Tags: , , , , |

According to research 8 out of 10 businesses fail within their first two years of operating. The number one reason is poor cashflow. The company could be making huge sales, but if their overheads are equally large or if their customers aren’t paying their invoices on time, the company could easily find themselves in financial difficulty. If you’re an independent [...]

Freelancing from a coworking space – could it work for you?

By |August 27th, 2019|Categories: Blog, Contracting, Productivity, Social|Tags: , , , , |

The world of work is changing, and more and more people are choosing to become self-employed freelancers and contractors. IPSE (Association of Independent Professionals and Self-Employed) states that the number of self-employed in the UK now equates to 4.8 million, with 42% (approximately 2 million) working as freelancers. In 2016, freelancers contributed a staggering £119 billion to the UK economy. [...]

Are there any benefits to retaining a limited company while working ‘inside’ IR35?

By |August 21st, 2019|Categories: Blog|

Contractors are used to hearing that it’s best to avoid contracts which place them inside IR35. The main reason being that there’s a fair chance you’ll be deemed to be an employee and tax and NI will be deducted at source. From April 2020, the government is proposing to change the way the IR35 status is determined for contractors working [...]

Contracting abroad: Why professional advice is a must

By |August 19th, 2019|Categories: Blog, Contracting, Top Tips|Tags: , , , , |

If you’re offered the opportunity to contract abroad, it may be tempting to grab your passport and rush off to the airport. Not many people would blame you for doing this, as depending on the country you’re contracting in, you could have year-long sun, a chance to learn another language and expose yourself to new cultures and working practices. But, [...]

Speak to one of our Directors on 01962 867550

Enquire Now