If you’re a contractor you should be smiling. HMRC have published the PAYE tax and Class 1 National Insurance contributions (NICs) for 2015 to 2016 and it looks like there might be a little more cash in your pocket from April this year.
Gone are the days when people worked for the same company for 35 years to receive a gold watch or certificate at the end of their careers.
If you haven’t submitted your Self Assessment tax return by 31 January 2015 you will be subject to a £100 fine, courtesy of Her Majesty’s Revenue and Customs. If you still don’t co-operate you may find yourself facing larger fines. Self Assessment tax returns – Who needs ‘em? You do, if you: Are receiving Child […]
If you’re considering making the move from permanent employment to contracting, you’ll need to find someone who you can trust with your tax matters. A good accountant will make sure your business saves on tax, stays compliant with evolving legislation and keeps up-to-date with the latest trends. Here are five quality traits to look for when choosing an […]
Haven’t submitted your Self Assessment tax return yet? Here’s why you should do it now before it’s too late.
HMRC is facing major embarrassment after a leaked memo has revealed that those who under- or overpaid tax in 2013/14 may have once again received an incorrect tax bill.
Workplace pension laws have changed and the government has made it compulsory for all employees to be enrolled into a pension scheme by their employers.
The UK’s second-ever Small Business Saturday is scheduled for 6 December and aims to cultivate a “shop local” attitude in the build-up to Christmas and beyond. The end goal? To channel foot traffic to the UK’s many, many small businesses and encourage a culture of entrepreneurship that lasts well into 2015.
With Freelancers’ Day fast approaching, we thought it would be the ideal time to offer tips and advice for those IT workers considering moving over into self-employment. Here are our top tips for making a success of your IT contracting career.
National Freelancers’ Day 19 November 2014
Did you know that you can receive up to £4,250 per annum in tax-free income by renting out a furnished room in your home?
So your time in the UK has come to an end and you’ve decided to pack your belongings and move back home. These three tips will take you safely home with money to spare.
Many permanent employees have access to health or medical cover as part of their employment package. But if you’re self-employed, can you (and should you) pay for things like healthcare insurance, gym memberships and medical expenses through your limited company?
Self Assessment websites that offer a simpler, easier way to enter your tax returns, but are they really that much better?
More than one million people in the UK will see a pay increase of as much as £355 a year once the new minimum wage (NMW) is introduced on 1 October 2014.
If you’ve just arrived in the UK, take 10 minutes to familiarise yourself with the scams doing the rounds at the moment. These are often targeted at second-language English speakers, many of whom are unaware of the tips and tricks to avoid being scammed.
At 1st Contact Tax Refunds, we like to take a break from the norm and showcase the lighter side of business matters. Tax may have been around since ancient times, but it’s not without it’s fair share of oddities. Here are seven unusual taxes imposed through the ages.
The UK is looking to clamp down on the benefits received by temporary migrants. If the Treasury’s proposal goes through, temporary workers from outside the UK will no longer receive their £10,000 tax-free personal allowance.
One in three people are due a tax refund, yet millions of Pounds lie unclaimed at HMRC. One of the reasons people don’t claim is because they believe their misplaced documents disqualify them from a tax refund. The truth is, locating your lost tax forms is the easiest trick of all.
If you’re a nurse, midwife, doctor, dentist or other professional working in the UK’s healthcare industry, you could be due a professional tax rebate. Here’s how to check if you’re eligible.