Below you'll find a list of all posts that have been categorized as “Record Keeping & Taxes”
Small businesses in the UK are subject to a number of taxes that depend on the structure, activities and performance of the business. Make sure you take taxes into account since the beginning of your business and you know which contributions your business must calculate and pay to HMRC so you’re not caught out. Here’s what you need to know. …
On July 2019, the government published the Draft legislation for Finance Bill 2019-20. Among other tax measures, this document introduces important changes to the operation of the off-payroll working rules, also known as IR35. What is IR35? IR35 refers to the tax legislation under which contractors working through an intermediary are taxed. IR35 legislation was introduced to ensure that UK …
The Person Without Any Tax Planning Loses… Everyday Of The Week Trusts have been a popular way to manage property and assets since the times of the Romans, and are considered a crucial part of clever tax planning. Simply put, trusts are a way to separate the legal ownership and control of a property from its equitable ownership and its …
7 Things To Know About Inheritance Tax As Benjamin Franklin once famously declared, ‘in this world, nothing can be said to be certain, except death and taxes’. If there’s one thing in the world that perfectly embodies Franklin’s statement, that is the inheritance tax. Formally speaking, inheritance tax is an impost on the estate of someone who has died. Under …
Organising taxes can be a nightmare for many freelancers, but it’s one of the most important areas of your freelance business and one you don’t want to get wrong. The last thing any freelancer needs is the tax man bearing down on his/her back because taxes were not reported properly. Filing and reporting taxes can seem like a …
Hiring an independent contractor can be a confusing and daunting process for many companies. There are so many pros and cons, plus you may also be wondering whether or not you should hire a full-time employee instead of an independent contractor. It’s important that you understand that there is a distinction between hiring someone as an employee and as a …
An employment contract is the agreement between an employer and an employee, defining the nature of their relationship, and their respective rights and obligations. This is a simple explanation that perhaps any reasonable person can produce. In practice however, drafting and negotiating an employment contract can become a big hassle. The importance of such an agreement is hard to …
If you’re the owner of a startup (or are just around the corner of becoming one), let us just say, congratulations. It’s a bold and impressive move, as well as a testament to your creativity, entrepreneurial spirit and the ability to think outside that tedious box. No matter how many, and how ingenious the cogs of your business mind, however, …
For any forward thinking company, an employee handbook is of the utmost importance. Think of it like a corporate Bible, a piece of content that lets workers know what’s required of them. It’s the rule of law, a document that wrests control from the untamed masses, exerting corporate influence and order. Well, something like that. The handbook should detail your startup’s laws on …
In today’s world business success is certainly possible, but it’s not something that you can accomplish in a few hours per day. It takes hard work and perseverance, patience and good decision making – and that’s just for starters. Many people think that running a business is as easy as hanging an “Open” sign on the door. Thinking that way …
