At Source Accounting, we regularly update our blog with expert advice and industry insights.
Take a look at the most recent blogs here.
Encouraging Investment & Increasing your Take Home: Seed Enterprise Investment Schemes
To stimulate and support entrepreneurship, HMRC is tasked with offering tax incentive schemes for UK taxpayers who invest in qualifying startup and small, early-stage companies which have permanent establishments in the UK.Read More
It Is Okay To Pay Your Spouse, Right?
Splitting remuneration to family members can sometimes be an effective tax saving device. However, any income splitting needs to be done properly otherwise there could be potential HMRC issues around the corner for contractors who haven’t set things up properly.Read More
The 24 Month Rule
The 24 month rule is something that can cause a bit of confusion amongst contractors – it relates specifically to the claiming of travel expenses to and from a workplace. It is completely separate legislation from IR35.Read More
Inheritance Tax Planning
Inheritance Tax planning is something that contractors usually put on their “to do later” list as it isn’t considered immediately pressing – however it can have massive implications for individuals and families in the untimely event of a death.Read More
Planning For The Future
Times are hard for some contractors at the moment. As we’ve seen over the last year, fluctuations in oil price can have a significant impact on contractors with rotas being changed and rate cuts happening across the board.Read More
The Shipyard & The Contractor
There was once a shipyard. A great big shipyard. It built great big ships and it had a great big workforce. Times were good. Lots of ships were being built. Then it changed. One day they launched a ship and had no work left for their skilled workforce. They didn’t have sufficient reserves to keep them on the books and pay-offs were inevitable. Sound familiar?Read More