From April 2021, reforms to IR35 - otherwise known as off-payroll working - now also apply to the private sector. It's a move that could make claiming Entrepreneurs' Relief the next step for many businesses. Medium and large-sized private sector businesses are now responsible for determining the IR35 status of their contractors. Workers who fall inside of IR35 must have Income ...read more
Many small businesses have been on the receiving end of substantial business rate bills this year, as the government’s Valuation Office Agency (VOA) has started to act on the implications of a 2015 Supreme Court ruling that was delayed by two years. Some businesses which operate from different rooms or floors have seen particularly large increases in their bills, which ...read more
When providing services to your client, occasionally you might need to pay for items on their behalf. How do you then treat the VAT on the expenses that you recharge to the customer? There is one simple rule that you need to keep in mind: all recharged expenses carry VAT, unless the item is a disbursement. If you pay an expense on ...read more
Ignore the letter One of our clients received this letter, and was understandably concerned – this letter has left some businesses thousands of pounds out of pocket. Business owners should be worried by this letter, but not for the reasons that you think. These letters are spam letters sent out by a Spanish publication firm, threatening businesses with being struck off a ...read more
The Seed Enterprise Investment Scheme (SEIS) was set up in 2011 by George Osborne to promote new enterprise and entrepreneurship, which in turn would help economic growth. It extends the existing EIS scheme by targeting smaller, higher-risk companies, although it also introduces stricter qualifying requirements. The scheme helps newer startups to appeal more to investors by offering them a couple of ...read more