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Office Hours: 9am to 5.30pm
0345 557 1287
Office Hours: 9am to 5.30pm

Are you affected by the Loan Charge?

The UK Government has been taking big steps to tackle tax avoidance over recent years and is clamping down on disguised remuneration schemes. Contractors and employers who had been in receipt of remuneration disguised as loans are facing tough penalties, with the 2019 Loan Charge targeting thousands who have used these schemes over the past two decades. Many contractors who worked for non-compliant umbrella companies may be affected by the Loan Charge.

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Could Brexit Be Good News For Contractors?

Whilst some contractors may be fairly positive about Brexit, many others may be feeling incredibly confused and uncertain about what the future holds. At the time of writing, MPs have just taken “unprecedented” control over the Brexit process from the Government, with our attention being drawn to seismic unforeseen changes seemingly every day. However, it seems that even the most pro-Remain contractors may have more reasons to be optimistic than they expect with regards to their own post-Brexit career opportunities.

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Key Dates in the Accounting Calendar

Once you become self-employed, you may spend more time thinking in accounting years rather than calendar years. If you do need help with finding out what the key dates in the accounting calendar are, read on. This guide will provide you with pretty much all the information you need to avoid missing deadlines, prevent tough penalties and keep the taxman happy. Once you know what the most important dates are, you can complete all the relevant paperwork in time, save money and avoid panic.

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Consequences Of Missing VAT Payments

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 you a penalty or a surcharge liability notice. This depends whether you have missed your payment for the first time or have failed to pay on time on multiple occasions.

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Reduce Your Costs and Never Miss A Deadline Again

If you need are looking to reduce costs without compromising on quality, accuracy or compliance, get in touch with the One Click Group today.

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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.

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Consequences of Missing Tax Deadlines

Missing a tax deadline can be costly and place you in a great deal of hot water. However, it can be all too easy to fall behind with your tax obligations when you don’t have the support of an expert team behind you.

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What Steps Are Needed to Submit Tax

If you’ve recently become self-employed or need to complete a tax return for any other reason, chances are you may be feeling somewhat confused about what is expected of you.

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2019 Disguised Remuneration (DR) Loan Charge

Disguised Remuneration schemes have allowed for individuals to avoid tax, costing the Exchequer hundreds of millions every year. Whilst previously employers or contractors who had in the past received remuneration disguised as loans only had until 30 September 2018, HMRC has now extended this deadline. The penalties imposed by HMRC can still be avoided on the basis that a settlement is made before 5th April 2019.

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The Advantages of using a PAYE Umbrella Company

If you have made the decision that working through a limited company is not the right option for you, working through a PAYE umbrella company may be an alternative worth considering.

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