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National Insurance Planning for 2021/2022

National insurance planning For employers, employees and the self-employed. Our state pension, benefits, health service and more are all funded by National Insurance contributions (NICs). These are paid in different ways and at different rates by employers, employees and the self-employed, and they can also be paid voluntarily. Recently, the differences in the way NICs …

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IR35 in the Private Sector

Off-payroll working in the private sector Are you prepared for changes to the IR35 rules? Exactly a year later than planned, changes to the off-payroll rules – known as IR35 – will take effect in the private sector next month. The emergence of COVID-19 put paid to the changes affecting large and medium-sized private-sector organisations …

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Claiming Expenses with an Umbrella Company

Can I claim Expenses through my umbrella company? One of the most frequently asked questions that we receive is in relation to reclaiming expenses as a contractor working through our umbrella services  – here’s what you need to know. Contractors who have been around for some time would have noticed significant changes in this arena …

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How to Plan for your Retirement

Get on track for a comfortable retirement. If you have a defined contribution pension scheme – whether private or through your employer – your retirement savingshave probably been hit quite hard by the COVID-19 pandemic over the past 12 months. That’s because pension funds invest in the stock market and recent turbulence, which has caused …

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Complying with your Tax Obligations

Meeting your obligations amid COVID-19 disruption. It’s not often that HMRC makes exceptions to its tax deadlines or late-filing penalties, but the past year has, as in so many ways, been different. Between optional deadline deferrals, new payment schemes and temporary reliefs, keeping on top of the changes to the usual tax timetable hasn’t been …

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Gains on UK residential property

Reporting and paying within 30 days.  Earlier this year, a new rule requiring capital gains tax on UK residential property to be reported and paid to HMRC within 30 days kicked in.  This ushered in another change to tax rules affecting residential property owners, which seeks to raise more tax from the disposal of additional …

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How to manage cashflow in your business

Planning ahead to boost your business’s resilience. During what would normally be the busiest period of the year for businesses in retail, hospitality and other sectors, many will now be keeping a close eye on their cashflow as they deal with the impacts of COVID-19. While Government-backed schemes like furlough, grants and loans will provide …

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Chancellor gives new lifeline

The UK’s furlough scheme is winding down. But with local lockdowns and new cases of COVID-19 in a state of escalation, Sept 24th was the chosen apt time for Chancellor Rishi Sunak to step to the podium once again. The reason? The announcement of his ‘Winter Economy Plan’. Not intended to be a direct extension …

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Getting on top of self-assessment

Why 2019/20 is the year to get it done early. With everything that’s happened so far this year, it might be easy to forget your obligations to file a tax return for 2019/20 by midnight on 31 January 2021. The coronavirus pandemic and subsequent economic crisis has caused chaos with businesses up and down the …

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