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IR35: Countdown to Off-Payroll Rules


What are the new off-payroll rules?

Up until now, contractors earning a rate of £220 per day or more or on contracts of more than six months have had to provide assurances to the relevant public sector body that they are outside of IR35. These thresholds do not apply to the tax rules.

As from 6th April 2017, the responsibility for assessing a worker’s employment status…

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A Capital Idea: Company Dissolutions


Tax treatment of the final distribution of assets

For contractors contemplating winding up their company, the tax treatment of the final distribution of assets will either be income, ie a dividend or capital, subject to capital gains tax (CGT). The decision on how to treat the final distribution will depend on the contractors’ level of income and the value of the assets to be distributed, normally cash in…

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Are Dividends Still Tax Efficient?

Pecuniary liability

Dividends – taxed differently from 6 April 2016

For many years owners of SMEs have sought to reap the rewards of their labour by extracting profits from their companies in the most tax efficient manner, ie low salary: high dividends. This has been long standing, straightforward and acceptable tax planning for many years and makes perfect sense. The 2015 summer Budget however announced significant changes in the way…

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Business Expenses – Renting a Flat

business expenses

Can I claim the cost of Renting a Flat as one of my business expenses?

The costs of accommodation incurred by employees whilst working at a temporary workplace are relieved for tax under the travel and subsistence rules.

HMRC’s guidance, booklet 490 – ‘Employee Travel’, section 5.4, confirms that:

“Travel expenses include both the actual costs of travel together with any subsistence expenditure…

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