Tax planning for 2021/22
For the 2021/2022 tax year, tax allowances and rate bands have, in the main, remained the same. In this article, we demonstrate what that means to contractors in real terms, and offer our advice for trading as tax-efficiently as possible. [...]
Your tax year-end checklist
Ensure you make the most of your tax-saving opportunities before April 6th. The end of this tax year is almost upon us, so now is the time to act and ensure you’ve done everything you can to reduce your tax [...]
Budget 2021 – what does it mean for contractors?
Although Rishi Sunak’s budget today didn’t repeal the off-payroll legislation change due in April as we might have hoped, it’s not all bad news for contractors. With the economy expected to recover to pre-Covid level by mid-2022, the Chancellor set [...]
The VAT Deferral Scheme
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 [...]
Your IR35 checklist – things to consider and start doing now!
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 [...]
Everything you need to start your contracting career in 2021
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 [...]
Furlough extended until March, Job Retention bonus scrapped
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 [...]
A guide to dividends and what you need to know as a Limited Company contractor
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 [...]
IR35 – glossary of terms
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 [...]
Coronavirus business support measures September 2020
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 [...]
What would the rumoured Corporation Tax hike to 24% cost your company?
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 [...]
Economy rebuild measures announced
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. [...]