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Important IR35 update: be prepared for April 2020

2019-10-21T10:58:28+01:00By |

You will no doubt be aware of the proposed changes to IR35 (often referred to as the ‘off-payroll rules’) set to come into force from April 2020. Our aim here is to ensure you are aware of the support that we can offer and also the steps that you can take in order to ensure [...]

Can I use company money to pay my personal mortgage? 

2019-10-15T10:02:32+01:00By |

We get asked lots of questions by our contractors, and this is one that comes up time and time again.  Contractors who work outside of IR35, often ask us this because they may have sums of money held in their business bank account to cover future tax liabilities. While it’s sitting there, it is earning [...]

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

2019-10-10T18:06:25+01:00By |

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% [...]

Top tips for getting a mortgage when self-employed

2019-10-10T18:06:20+01:00By |

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 [...]

Charging interest on late payments

2019-09-24T09:42:28+01:00By |

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 [...]