Tag Archives: Clear House Accountants

Simple Expenses If You Are Self-Employed

Simple Expenses If You Are Self-Employed

How do simple expenses work for self-employed individuals The Simplified expense system has been set up by HMRC to help busy self-employed individuals or business owners to reduce the inconvenience of time-consuming record keeping and data entry for their accounting and tax matters. Keeping up with all the bookkeeping obligations can become very arduous, especially for self-employed […]
4 days ago 20 Reads share
Home Loan Tax Avoidance

Home Loan Tax Avoidance Scheme

What is a home loan tax avoidance scheme and what to do if you have used it Loan schemes have been named as ‘disguised remuneration’ schemes by HM revenue & customs. HMRC claims that these schemes are generally used by individuals to dodge liable taxes and National Insurance Contributions (NIC). HMRC has never really approved […]
7 days ago 23 Reads share
Employment Intermediary Rules

Business

The Workings Of Employment Intermediary Rules

Are you impacted by the employment intermediary rules and what to do if you are? The legislation covering the employment intermediary rules was introduced to track and clamp down on the employees that slip through the tax net by disguising themselves as self-employed when they are actually providing services to the firm. The rules were […]
1 week ago 32 Reads share
Bookkeeping Terminology Explained

Business

Key Bookkeeping Terminology Explained

A guide about various terms used in bookkeeping or that relate to bookkeeping Hiring an accountant or a bookkeeper can be a very costly option for a startup owner in the initial phases of their business, it is therefore extremely valuable for a business owner to understand the key terms of bookkeeping in order to initially manage their books […]
2 weeks ago 32 Reads share
Section 20 What Are They

Business

Section 20’s – What Are They?

A guide about Section 20’s What do you need to know about section 20 of the Landlord and Tenant Act (1985)? When major works on a building are carried out and the cost per leaseholder exceeds £ 250 the leaseholder has certain rights that have to be followed in order for the cost to be […]
August 30, 2019 48 Reads share
Proposed Changes 2020 Finance Bill

Changes Proposed For The 2020 Finance Bill – Are You Prepared?

Potential tax changes proposed for the 2020 finance bill and their impact on you or your business The Government of UK is working on a number of proposed changes that might come into effect from either the 1st or the 6th of April 2020, however, there is a good chance that the commencement date of […]
August 27, 2019 82 Reads share
Contractor vs Freelancer

Difference Between A Contractor And A Freelancer

Contractors and freelancers, the terms are often mistakenly used interchangeably and may sound similar to the general public, but the mechanism through which both of these offer their services is quite different. The legislation does not specifically differentiate between them in terms of taxation, but the need for understanding the differences between the two is […]
August 21, 2019 54 Reads share
Understanding The Construction Industry Scheme

Business

Understanding The Construction Industry Scheme – CIS

The UK’s Construction Industry Scheme, abbreviated as CIS, is a national tax-deduction scheme for British contractors and sub-contractors. Created to reduce tax evasion in the construction industry, the scheme falls under the jurisdiction of and reports to Her Majesty’s Revenue and Customs (HMRC). Any New Developments? As from 5th September 2018, a non-resident firm engaging […]
May 31, 2019 204 Reads share

Startup and Innovator Visa UK

The non-European Economic Area nationals living in the United Kingdom can now enjoy the privileges of their EEA counterparts thanks to the new regulations that have been introduced in the United Kingdom by the Government. Non-EEA entrepreneurs and investors wishing to run their businesses in the UK have the opportunity to establish their business if they […]
April 17, 2019 311 Reads share