2019 Disguised Remuneration (DR) Loan Charge

14 February 2019

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

The Advantages of using a PAYE Umbrella Company

24 January 2019

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

Smart Pay with CIS Umbrella

17 January 2019

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

What Expenses Can You Claim When Inside IR35?

19 December 2018

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

Inside and Outside IR35 – What You Need To Know

25 November 2018

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

Sole traders and IR35

15 November 2018

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.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

G7 Corporate Tax Rates

26 October 2018

The Group of Seven (G7) is a group consisting of the United Kingdom, United States, Canada, Germany, France, Italy and Japan. These countries have the seven largest advanced economies in the world, representing more than 62% of the global net worth.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

Accelerated Payment Notice: What is it?

7 October 2018

Accelerated Payment Notices were first introduced in 2014 and have since been used by HMRC in order to recover billions of pounds of taxes. The notice states that HMRC believes that the recipient has willingly partaken in a tax avoidance scheme and therefore are required to pay the amount that has been wrongfully avoided within a 90-day period.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

Sole Trader vs. Ltd Company

28 September 2018

If you run your own business, it’s inevitable that you’re going to be faced with the decision of whether you want to trade as a sole trader or limited company. Which is best for your circumstances? Here’s a quick summary of the main differences between trading as a sole trader or a limited company.

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.

IR35 cost

26 November 2017

If you are outside IR35, you would typically take a small salary from your company which will allow you to benefit from statutory payments whilst minimising the amount of Employer’s and Employee’s National insurance and tax. The rest of the income you take from the company would be paid in the form of dividends which come out of the company’s post-tax profits.

The advantage of this is that dividends do not attract National Insurance and are taxed under the Corporation Tax regime.

If however you are caught by IR35 on an engagement then the majority of your income would be treated as “deemed salary” and subject to the same levels of taxation as a normal employee. There may still be some benefits of working via a limited company even if IR35 caught such as flat rate VAT and certain expense allowances but the financial advantages are less.

You can find more IR35 information here

Mike Keeling

Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.