Archive | UK Tax

Budget Speech

Spring Budget 2017: Summary points

On 8 March 2017, the Chancellor of the Exchequer, Philip Hammond delivered the 2017 Spring Budget. It was notably shorter than the Autumn Statement delivered in November 2016, but there are still some key points you should take note of. See our summary below. Economy The UK is forecast to be the second fastest growing […]

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Pay less tax: Choose the right contractor accountant

Choosing an accountant is a critical decision for any contractor. A good accountant is an asset to your business, handling your affairs efficiently and ensuring that you stay compliant with ever-changing legislation. Below, we highlight five crucial factors you should consider before taking the plunge. 1. Certification Anyone can call themselves an accountant or financial […]

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How to claim a teacher tax rebate

If you’re a teacher in the UK, you may be due a tax refund from HMRC. Amongst others things, you could claim for professional body membership fees, specialist clothing, equipment and the use of your car for work purposes. Who is eligible? Anyone working as a teacher or in the education profession could be eligible. […]

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The benefits of being a contractor

There are loads of advantages to being an independent contractor in the UK. Besides having the freedom that comes with being your own boss, it can also mean more money and less tax. Tax efficiency Owning shares in a limited company entitles the shareholder to dividends. Dividends are taxed at different (lower) rates than salary […]

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What HMRC’s proposed IR35 tweaks mean for contractors in the public sector

HMRC is aiming to clamp down on contractors and self-employed workers who are not paying the correct amount of tax. Their efforts could see 90% of contractors either move to the private sector or increase their fees to compensate for the costs. The government is currently deciding whether to shift the responsibility for intermediaries’ legislation […]

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Mileage tax refund

Claim your mileage tax refund now

UK contractors often do work that requires them to move across the country-side. Even if you’re not a contractor, you can claim back a portion of the money you spend on your business-related transport. This is what is often referred to as a mileage tax refund. Who is eligible? Contractors, freelancers, permanent employees and even […]

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The benefits of filing your tax return early

It’s worth making time for tax before your December holidays. Apart from not having to worry about your paperwork when you should be relaxing, there are a few additional perks for those who submit their returns ahead of the 31 January deadline. While it can be tempting to leave your return to the last minute, […]

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How to spot an HMRC tax scam

You’re expecting a tax refund, when an email from HMRC pops into your inbox giving you the good news. All you need to do is click on a link to access the Pounds you’re due. Sounds easy enough, but is it genuine? We look at how you can spot an HMRC tax scam immediately. While […]

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Could you have paid too much tax?

If you’ve changed jobs, earnings or benefits during the last tax year, you could be entitled to a tax refund. It’s always great to have a little extra cash in your back pocket, so we’ve rounded up the 10 most common ways that you could have paid too much tax. Some credits, such as the […]

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How millennials are spending their tax refunds

Millennials, or Generation Y, tend to have a reputation of being entitled, lazy and naïve. However, recent data shows that they’re making some of the most responsible choices when it comes to spending their tax refunds. While the usual big-ticket items and holidays are still popular, a number of recent surveys have shown that more […]

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The 2016 Budget summary

On 16 March, George Osborne, Chancellor of the Exchequer, read the Budget Statement for the 2016/17 tax year and beyond. The March Budget was directed at future generations and continuing the national recovery. State of the economy The UK growth rate has been revised down from 2.4% to 2.2% in 2015/16, 2.0% in 2016/17 and […]

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