On February 11th, HMRC announced that they will be launching a new scheme, designed to assist with businesses’ cash flow, as part of their ongoing COVID-19 support. This scheme will allow businesses to defer their VAT liabilities generated between March 20th and June 30th 2020. In this blog we take a look at the new […]

Are you considering upgrading your PC or software? Before you hit the ‘add to basket’ button, do you know how these sorts of expenses are treated for tax purposes? In this blog we take a look at technology costs and how they’re accounted for, and the rules surrounding the treatment of purchasing computer-related goods. Business […]

The IR35 reform is coming, and there’s only a few more months before it’ll be here. So what can you be doing now to ensure you’re 100% ready? In this blog we take a look at the IR35 checklist, to help you get prepared so you can avoid any nasty shocks come April. Know what […]

So you’re ready to start your new career in contracting, congratulations! But if you’re new to the industry, where do you start? In this blog we guide you through the key areas you’ll need to consider, to help you get going in your new contracting career. Choose your business structure Before starting your first contract, […]

It has now been confirmed that the Coronavirus Job Retention Scheme has been extended until 31 March 2021. From 1 November 2020, employers can claim 80% of an employee’s usual salary while they’re in furlough, up to a maximum of £2,500 a month. Any employee that was employed and on payroll on 30 October – […]

For Limited Company contractors, dividends are a fantastic way to maximise your take home pay and increase your tax-efficiency, but getting your head around them can be a little tricky. Whilst it’s always a good idea to have the support of a specialist contractor accountant to help you get it right, it’s also important to […]

With the IR35 Private Sector changes being postponed to April 2021, now is the perfect time to brush up on your IR35 terminology, to ensure you’re ready to hit the ground running when the time comes. We’ve put together this handy IR35 glossary of terms, to help you start preparing for the changes. CEST tool […]

Rishi Sunak today announced that the government will cover up to two thirds of workers’ wages if their hours have been reduced due to the coronavirus pandemic. It is hoped that the ‘Jobs Support Scheme’ will help to reduce the millions of job losses expected when the furlough scheme ends on October 31st 2020. Announced as […]

According to some media reports, the Chancellor is considering raising Corporation Tax from 19% to 24%, but what would this mean for Limited Company contractors? In this blog we investigate the affect his decision will have, and how Aardvark Accounting can help. What do we know so far? The government recently floated the idea of […]

The government today announced what they refer to as their next step in rebuilding the economy. Their focus is very much around preventing unemployment whilst gradually stopping the furlough scheme, boosting the hospitality sector and kick starting the housing market. The measures announced are: Furlough bonus £1,000 bonus for keeping furloughed staff until January 2021 […]

Thankfully, gone are the days where banks, building societies and mortgage lenders would flatly turn down a contractor for a mortgage, based on the misconception that it’s risky to lend to someone who is self-employed. As contracting has become mainstream, more lenders are approving mortgage applications from contractors. Yet, there are some lenders who remain […]

So it’s a new tax year, however a lot of the rates will be very familiar to us for 2020/21.  In this article, we show you how this works in practical terms and how to be as tax efficient as possible. Salary There are two main scenarios for suggested salary levels: £8,788 if you are […]

With Covid-19 (Coronavirus) having a massive impact on businesses across the UK, it’s understandable that our Limited Company contractors are keen to understand the business support measures that have been announced by the Government. We’ve created a guide to all of the measures that can be read here, and below you can read the answers […]

Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There is a distinction in law between a director with a service contract and a director […]

This guide covers all of the business support measures announced by Rishi Sunak in March and is being updated as and when new initiatives are launched or changes are made to existing ones. Please bookmark this page to keep up to date. Last updated 17th August 2020: Additions to Grants for the self-employed Contents Coronavirus […]

Sunak delivers Budget to meet ‘challenging times’ Chancellor Rishi Sunak delivered his first Budget, and the first since the UK’s departure from the European Union, against the backdrop of the coronavirus outbreak. The Chancellor announced a £30 billion stimulus package to support the economy through coronavirus contagion and pledged to give the NHS whatever extra […]

We’re delighted to announce that our sister company SG Umbrella have been added to the accredited members list of The Freelancer and Contractor Services Association (FCSA). This is great news as the use of SG Umbrella is included in our monthly service for all Aardvark clients. To become an accredited member, they’ve had to undergo […]

IR35 in the private sector – where do we currently stand with the changes? We’re starting to get asked more “what is going to happen from April 2020?”… Now that the draft legislation has been issued, we can start to make you aware of the facts based on where we currently stand. What’s all the […]

So, it’s a new tax year and new increased rates for 2019/20. In this article, we show you how this works in practical terms.

Of all the professionals you are likely to encounter as a limited company contractor, your accountant is likely to be the most important.

The 2017 Autumn Budget represents the first step in the government's new Budget regime.

So, it seems that there’s been a u-turn on the plan to increase National Insurance, following the recent Spring Budget 2017.

I have to admit as Hammond started to deliver his Budget Speech, I was anxiously waiting to see what announcements he would make that would impact the contractor and small business industry. However it seems I need not worry this time around, with the main changes being: Tax Free Dividends The £5,000 dividend allowance will […]

Aardvark Accounting has been launched so that clients can focus on what they do best, whilst giving them the support to make the most out of being in business.

As you may be aware there are a number of changes coming into play from April 2017 that will impact contractors.

HMRC will be introducing a new initiative to move all personal and business tax online – Making Tax Digital (MTD).