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Reports say, 14% of the world working population is self-employed. A UK data of 2016 confirms 4.75 Million people working in UK as self-employed. People working on an hourly basis or not as a permanent employee share a big portion of self-employed people in the UK. Preferred because of lack of certain skilled resources, contract […]
All businesses are required to report their annual accounts to the government for tax purposes at the end of the financial year. The annual accounting statements are also used by enterprise owners to evaluate the success of their business operations. Moreover, the Her Majesty Revenue and Customs (HMRC) regularly checks the company accounts to assess […]
Many individuals move to the UK every year to work as expat contractors. Individuals hailing from non-UK or European Union (EU) countries can avail an array of benefits by working in the UK. The UK economy faces a steep skills shortage, and people from other countries can leverage this skills scarcity to find potential work […]
IR35 is tax law that was introduced in 1999. It is also popularly called the Intermediaries Legislation, and it came into effect in April 2000 under the Finance Act. IR35 gets its name from the then Inland Revenue, which is now the HM Revenue & Customs (HMRC). The legislation covers every individual worker who functions […]
While the debate about outsourcing or continuing with in-house resources will continue for long, the undeniable fact is that outsourcing has helped businesses achieve huge cost savings without compromising on deliverables. It is the same with outsourcing accounting services, where specialized services are available at a fraction of the costs without having to maintain an […]
At times, for one of many reasons or a combination of many reasons, it may be necessary to effectively bring all business operations to a close. UK company closing procedures need to meet certain statutory requirements, and will hinge on the financial status of your company – i.e. is your company solvent or insolvent?. In […]
Most individuals entering a business would probably be under the impression that setting up a Limited Company in the UK is expensive and complicated. Far from it, to actually get your “Certificate of Incorporation” as a Limited Company does not involve high costs. And depending on the option you choose, it can be either a […]
You’re a contractor determined to achieve a good work-life balance, but you’re not sure how. There are some fundamental elements to help towards achieving what many contractors are enjoying; the route to a good work-life balance for a contactor includes: An expert accountant, preferably part of a firm of accountants, offering a host of accountancy […]
Under what circumstances would you switch accountant? Would you look for an alternative if your needs weren’t being met? Of course meeting one person’s needs doesn’t guarantee that that any firm would meet someone else’s—you can’t please all of the people all of the time—but say you were a small business expecting the following, can […]
How do you get on with your bookkeeping? If you’re running a small business (including if you’re a landlord with rental income, or earning income from other sources on top of being paid via PAYE) hopefully you’re on top of your bookkeeping. Any business big or small must keep its books in order in order […]
