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Why Get an IR35 Contract Review?

off-payroll

IR35 affects anyone operating via a Ltd company and is something that you should be aware of as a contractor. Anybody thinking of going Ltd or anyone picking up a new contract should understand the importance of the legislation and why getting an IR35 contract review is crucial in building and maintaining a successful contracting career.

Being offered a contract is the starting point…

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5 Reasons to Become a Ltd Company Contractor

tax-treatment

We support many Ltd company professionals and most made their leap into contracting after careful deliberation. Some go Ltd because of a change in circumstances, some want more freedom in how they work, and some do it because they want to earn more from their income. Below, we examine five of the most common reasons that people set up and trade via a Ltd company.

Threat of Redundancy…

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How Can I Submit Business Expenses?

contractor phone

We speak with many contractors every day, and one of the most common questions we answer is how easy it is to submit business expense claims as a Qdos Accounting client. We strive to make the process of running a successful Ltd company as straightforward as possible and provide the right tools and guidance to make the most of your business expenses.

As a director of a PSC,…

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5 Reasons to Switch Contractor Accountants

Spring Budget U-Turn

Thinking of switching contactor accountants? We examine five key reasons why contractors change their accounting provider.

Having an accounting provider in place is vital in ensuring that a business can operate sufficiently. Having the right accountant that works for you is very important in ensuring that you utilise your company income correctly. We speak to numerous contractors every day who are looking at switching their accounts away from…

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HMRC Defeated in Recent IR35 Case

Spring Budget U-Turn

In a time of apparent reform for the IR35 legislation, Her Majesty’s Revenue & Customs’ charge against non-compliance is stopped in its tracks as they lose First Tier Tax Tribunal against Ltd company contractor.

IR35 cases have never been black and white, but despite their complexities, since HMRC launched dedicated teams tasked solely with enforcing the legislation, the number of investigations in the working status’…

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5 Tips to Choosing a Business Bank Account

business expenses

Anyone who is operating via a Ltd company is required to have a bank account set up attributed to their business. Having one of these in place is very important in operating successfully, and at Qdos we want to ensure that you understand the why’s and how’s of setting up a business bank account and want to make sure you choose a banking provider that is compatible to your business…

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What is an IR35 Accountant?

off-payroll

With online information and misinformation on IR35 rife within the industry, we discuss what contractors should look out for when seeking correct information on HMRC’s legislation. With more and more professionals operating via personal service companies, having the right support in place is vital. We take a view of what is an ‘IR35 accountant’.

IR35 Specialists

Ever since the introduction of the intermediaries legislation…

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Criminal Finances Act 2017

Need to know facts about the Criminal Finances Act 2017.

Having been announced in April of this year, the Criminal Finances Act 2017 was officially enforced on 30th September. It is a legislation which contractors, recruitment agencies and all UK businesses for that matter must be aware of – not least because ignoring it could bring about prosecution, criminal charges and crippling fines.

While…

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Getting the VAT treatment right

A Sorry Tale of Misunderstanding

There are three rates of VAT:

  • Standard rate of 20%;
  • Reduced rate of 5%; and
  • Zero rate.

There are also exempt supplies which do not attract VAT, but these are not the same as zero-rated supplies.

For the majority of contractors, the VAT treatment of their sales is straightforward enough, but there may…

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Disincorporation relief close to extinction

Pecuniary liability

OTS warning over neglecting relief

Disincorporation relief was introduced as a temporary measure from 1st April 2013 following recommendations by the Office of Tax Simplification (OTS) to remove the tax barriers when the owners of small companies want to transfer the business to a sole trader or partnership.

The relief allows transfers of land and goodwill to be made at cost or written down…

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