Working as a Contractor presents some unique challenges as well as some great benefits.The main advantages of contracting include the independence and flexibility it offers, beingyour own boss and good pay. But Contractors also face some challenges that people inconventional employment don’t have, including the responsibility of managing your financialand tax affairs as well as
Mind blown, is an understatement. A massive win for contractors in today’s mini budget by chancellor Kwasi Kwarteng announcing the repeal of the off-payroll working rules introduced in 2017 and 2021 from April 2023.
There have been lots of talk around tax cuts and one of the most talked about is the potential abandonment or delay of the scheduled increase in Corporation Tax. Which will come in the form of a marginalised rate which will affect contractors with profits above £50K. And those with profits of £250K could be facing up to 26.5% Corporation Tax from April 2023.
Before becoming the PM, Liz Truss pledged to review IR35 rules and the impact off-payroll working policies have had. With Liz Truss now in place as the UK’s new prime minister, contractors and employers are waiting for her to review the IR35 Rules. The PM referenced that self-employed workers don’t get the same benefits as
Relevant life cover is a tax efficient way to supply a director or employee life cover up to value of your choice. So, this could just be enough to cover the mortgage so your loved ones are not left struggling or with enough to cover their cost of living or more on top. The
Paying your spouse a salary – what to consider When you are in business and are setting up for the first time, or you have been running your company for a while, you might be considering if you can pay your spouse a salary through your company? If so, how much can you pay them as a salary?
Please read the below article which has been kindly supplied by Contractor Friendly Mortgages a specialist mortgage broker with over a decade of experience helping contractors secure mortgage funding. Who have also kindly agreed to give our users a £100 discount if you quote OutsideIR35Roles.com CONTRACTOR MORTGAGE GUIDE Securing a mortgage that is right for contractors can be
Outside IR35 Roles Limited are pleased to announce they have partnered with Tide as a business banking partner, to save you money and time managing your contractor income and expenses. Tide is trusted by over 350,000+ UK businesses and they are one of the UK’s leading challenger business banks*. Tide offers free business current accounts
As a limited company contractor operating outside of IR35 it will be your responsibility if something was to go wrong with your work, so to ensure you are able to contract worry free you will want to ensure you have the correct insurance in place. Getting started – Obtaining the contract If you are a
If you are contracting on a role for a small UK company or company outside the UK then the IR35 decision will remain yours to declare yourself inside or outside. There are four main areas which are as follows; Personal Service/Substitution – If the contract states a specific individual to provide the services, then
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