In the Construction Industry Scheme (CIS), contractors are obliged to deduct money from subcontractors’ payments for HMRC. This is similar to PAYE, where deductions are like advance payments towards a subcontractor’s tax and national insurance. One Click Umbrella can help you focus on running your business with less red tape.
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SME Accounting Services at a Fixed-Rate
If you require small business accounting services, why not try them at fixed rates? One Click Group are noted for our transparency and are ability to provide a host of umbrella employment solutions for freelancers and contractors. We have now been serving our clients for over five years and are able to provide the first-class personal and professional service that you are looking for.
Why You Need Small Business Accountancy Services
Having a small business can be hard enough without having to worry about your accounts, which is why many SME’s choose to outsource to specialised accountancy services. There is no legal requirement for you to appoint an accountant, but for many it provides peace of mind having an accountant to guide you through to each step of your accounts. One Click has a full guide on SME flate-rate accounting.
Are You Inside or Outside of IR35?
Many contractors don’t know whether their activities fall inside or outside of IR35.
IR35 status determines whether you are self-employed or not, and many companies have found themselves in hot water after enlisting the services of people that work on a full-time basis for them but treating them as if they were self-employed. One Click Group has written a full IR35 guide.
6 Time-Saving Small Business Accounting Tips
Get your accounts in better shape than ever before whilst also spending less time staring at figures with these six time-saving small business accounting tips.
If there’s one thing that all small business owners would like more of, it’s time. Use the following 6 tips to reduce the time you spend on business accounting and free up more time for growing your business.
What Do SME’s Use Accounting Software For?
Online accounting software makes it easy to record and organise your business’ finances quickly and efficiently, freeing up more of your time for growing your business.
What Expenses Can You Claim When Inside IR35?
It is understandable that many contractors remain concerned about how being inside or outside IR35 will affect them. Whether you are inside or outside can alter your tax contributions and take-home pay. Therefore, both client and contractors need to have a firm understanding of their working relationship to ensure it remains fair.
5 Steps to Reducing Your End of Year Taxes
There are no hidden secrets to paying less tax. HMRC’s rules are clearly set out, and they take tax evasion very seriously. However, there are ways that contractors can legally and effectively minimise the amount of tax they pay on their earnings at the end of the year.
Inside and Outside IR35 – What You Need To Know
IR35 was introduced by HM Revenue and Customs (HMRC), established to combat tax avoidance in the provision of personal services. Following this, the definition of self-employment was outlined. This way, disguised employees couldn’t take advantage of the tax benefits of self-employment. However, those who falsely identify as self-employed also enjoy the security of being a permanent employee.
Sole traders and IR35
If you are a sole trader working as a contractor for a company, it’s vitally important to be aware of the rules surrounding IR35. IR35 was first introduced by HMRC around the turn of the millennium and was designed to clamp down on tax avoidance.
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Latest News
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Key Dates in the Accounting Calendar
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It’s vital that businesses do all they can to make VAT payments on time. The payments themselves need to be made seven days after the month that follows your VAT period. If you do pay late, HMRC will either hand… Read More -
Reduce Your Acountancy Fees and Never Miss A Deadline Again
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Save £30 On Your Accounting Guaranteed
Xero is one of the most trusted and relied-upon cloud accounting software products on the market. When you use Xero, you can see your key business figures in real-time and gain a fully up-to-date overview of your current financial outlook.… Read More -
Worried About Brexit? Don't Put Off Tax or Accounting Decisions
The uncertainty surrounding Brexit has caused headaches for contractors working in all industries. Many UK contractors are spending sleepless nights worrying not only about Brexit but issues like IR35 reform too. Working as a contractor or freelancer can be a… Read More
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