The New VAT Penalty System: What’s the Deal?
If you're running a VAT-registered business, you've probably heard about HMRC shaking things up with a new VAT penalty system...
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Why Opting for a Regulated Accountancy Firm is a Smart Move
If you're navigating the world of contracting or freelancing, you know that managing your finances isn't exactly a piece of...
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Why You Should Consider Leaving Your Employed Job for a Freelance or Contracting Career
Are you tired of the 9-to-5 grind, feeling like just another cog in the machine? If you're yearning for more...
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The PAYE Employment Allowance: Could You Make a Claim?
Today, we're diving into the world of the PAYE Employment Allowance. Whether you're a seasoned entrepreneur or just setting up...
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VAT Registration and VAT Reclaims
VAT (Value Added Tax) can be a bit of a head-scratcher, especially for small companies. One question that often pops...
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Understanding PSCs for UK Limited Companies
Today we're going to cover a topic that's important for anyone running a limited company in the UK - People...
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Unwrapping the Gift of Trivial Benefits
As a freelancer or contractor, you're always on the lookout for ways to make your financial life a little bit...
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Decoding IR35: Navigating the Tax Maze for UK Freelancers and Contractors
Let's face it, the world of freelancing and contracting can feel like a maze, especially when you stumble upon tax...
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Splitting Company Shareholdings Between Spouses
As a small company owner, you may have considered sharing your company's shareholdings with your spouse. This practice, often referred...
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Understanding the Travel Expenses 24-Month Rule
In this blog we're going to delve into a topic that's crucial for your understanding of travel expenses claims –...
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Dormant and Non-Trading Companies – What’s the difference?
Ever found yourself scratching your head over the terms 'dormant' and 'non-trading' when thinking about your company's status? They might...
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Understanding Taxable Rental Income for Small UK Landlords
Navigating the world of property taxation can be a daunting task, especially for small landlords who may not have a...
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Riding the Wave of Corporation Tax Changes: A Guide for Contractors, Freelancers, and Small Businesses
If you're a contractor, freelancer, or small business owner in the UK, you might have felt a bit of a...
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A Simple Guide to the Section 455 Tax Charge: What Small Business Owners Need to Know
In this blog we are going to be talking about a little thing called the Section 455 Corporation Tax Charge....
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Why PaperRocket Accounting is the Ideal Choice for Contractors and Freelancers
Being a contractor or freelancer can feel like being a superhero - you've got special skills, the freedom to choose...
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Maximising Your Working From Home Claim Allowances: A Guide for Directors and Sole Traders
As we continue to embrace the working-from-home culture, you may be wondering how you can make the most of your...
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A Guide to Funding Summer Holiday Childcare for Company Directors and Sole Traders
As the summer holidays are just around the corner, many parents find themselves juggling their professional responsibilities with arranging childcare....
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What You Need To Know About P11ds
Whilst the 2022/23 tax year may have recently ended, the filing obligations for it continue, not only with personal tax...
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PaperRocket Accounting Shortlisted For The 4th Year Running At The Contracting Awards
We are very proud to announce that, for the fourth year running, PaperRocket has been shortlisted as ‘Best Contractor Accountancy...
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Budget 2023
After the last few years, with Covid and Growth Plans, and then Growth Plans reversed, statements from the Chancellor have...
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The Countdown To 2023/24 Is On
As we enter March, we are all hoping it will soon be time to say goodbye to dark mornings and...
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Keeping Your Data Safe With PaperRocket Accounting
Whether we like it or not, we live in a digital age, with most of us carrying around more data...
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Capital Allowances ‘Super Deduction’
In March 2021, our current Prime Minister Rishi Sunak, in his previous role as Chancellor, announced the introduction of a...
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Self Assessment Deadline Next Week- Act Now!
As we approach, what always feels like, the end of the longest month of the year, we are also approaching...
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Making Tax Digital for Income Tax Self Assessment Delayed
After its implementation was already delayed from April 2023 to April 2024 due to the pandemic, it was announced on...
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All You Need To Know About… Staff Entertaining At Christmas
In the next of our blog series focusing on the ‘All You Need to Know About…’ various different elements of...
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Autumn Statement – The Key Points
It feels like a mere few weeks ago that we were writing our last blog about a Chancellor’s announcements (and...
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All Change For The VAT Penalty System From 2023
From January 2023, HMRC are introducing a new penalty system for the late filing/payment of VAT returns, completely overhauling the...
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All You Need To Know About… Business Expenses
When running your own business, whether as a limited company or a sole trader, you may be uncertain as to...
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Growth Plan? What Growth Plan?!
Less than a month ago, this accountant sat here writing a blog all about the (then) Chancellor Kwasi Kwarteng’s ‘Mini...
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All You Need To Know About… The Director’s Loan Account
In the second of our blog series focusing on the ‘All You Need to Know About…’ various different elements of...
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IR35 Reform Repealed and Health & Social Care Levy Axed- Details of the 2022 ‘Growth Plan’
He may have only been in the job for 3 weeks, but on Friday 23rd September, new Chancellor Kwasi Kwarteng stood...
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ALL YOU NEED TO KNOW ABOUT… TRIVIAL BENEFITS
For the next few weeks, our blogs will be focusing on the ‘All You Need to Know About…’ various different...
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Second Self Assessment Payment on Account Due
We are now over halfway through 2022 (unbelievable I know!), and the end of this month brings with it the...
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Here Comes The Sun, Here Come The Kids!
The sun is shining (although with the British weather, by the time you’re reading this, it’s fully likely that it’s...
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PaperRocket Senior Accountant Wins Best Contractor Accountant At The Contracting Awards 2022!
We are absolutely thrilled to announce that last night, at the first ‘in person’ Contracting Awards event since 2019, our...
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Confirmation Statements- What Are They And Do I Need To Complete One?
When you have a limited company, much of your focus may be on the accounting filings that are required of...
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Choosing an Accountant- Why it’s Important to Get it Right
It’s fair to say that when you first set up your own business, your ‘to-do’ list will most likely be...
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Managed Service Company Legislation- Should I Be Worried?
If you keep up to date with the latest HMRC or contractor goings on, you may have heard recently about...
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P11ds- What They Are And Whether You Need To Complete One
Now that we are a few weeks into the 2022/23 tax year, it’s time to start getting everything tied up...
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Happy New Tax Year!
We have now bid adieu to 2021/22 and stepped foot into the 2022/23 tax year, which runs from 6th April...
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Spring 2022 Statement
With the cost of living sky rocketing at the moment, it’s fair to say that all eyes were on the...
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PaperRocket Accounting Shortlisted in Two Categories at The Contracting Awards
We are very proud to announce that, for the third year running, PaperRocket has been shortlisted as ‘Best Contractor Accountantancy...
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PaperRocket Awarded Cyber Essentials Certification – You Can Trust in Us to Keep Your Personal Data Secure and Safe
In 2022, we live in a digital age, where every day, most of us carry around more data that could...
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Saving Tax: Making the Most of Your Allowances Before the End of the Tax Year
In this week’s blog, with the end of the tax year rapidly approaching, we are going to take a look...
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Saving Tax: Understanding Your Tax Code
This week we will be looking at tax codes. Having an incorrect tax code applied to your salary can potentially...
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Saving Tax: Marriage Tax Allowance
This week, we will be looking at the Marriage Tax Allowance. It is estimated that around 2.4 million qualifying couples...
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Student Loans Repayments To Increase From 2022/23
With all the goings on that have been happening on the political landscape recently (cheese and wine anyone?!), you would...
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Self Assessment Return Deadline Extended
Benjamin Franklin once famously said that ‘in this world, nothing can be said to be certain except death and taxes’....
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2021 – The Christmas To Get Your Jolly On (And Save Some Tax In The Process)
After the rather mellow affair of Christmas 2020, with lockdowns, social distancing and masks aplenty, here’s hoping that Christmas 2021...
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Director’s Loan – All You Need To Know
Whether you’ve been running your company for years, or just set up, you may well have heard of the ‘Director’s...
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Autumn Budget and Spending Review
Whilst usually we are only ‘treated’ to one Budget a year by the government, it’s safe to say that the...
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Have You Ensured That Your Business Is Insured?
Whether you have just set up a limited company, or you’ve been a company director for a while now, you...
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Understanding Your Accounts – PaperRocket’s Top Tips
For most limited company directors, hiring an accountant to help them with the accounting side of their business is a...
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PaperRocket Accounting Shortlisted For ‘Service Excellence’!
Yes, there may be an apparent fuel shortage at the moment in the UK, but at PaperRocket, we’re cooking on...
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Self Assessment Returns – Why You Should Get Yours Submitted Today
Autumn is officially upon us, and as we say goodbye to the Summer (not that the weather made it feel...
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Health and Social Care Levy – What It Means For You
Yesterday in the House of Commons, Prime Minister Boris Johnson stood up and outlined his plans for how the government...
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Continuing Working From Home – What You Can Claim
It is fair to say, that over the past 18months, more people have been working from home than ever before....
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Time To Celebrate?
The 19th July has been labelled by some as ‘Freedom Day’. As we largely say (a cautious) goodbye to social...
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Self Assessment – Second Payment On Account Deadline Approaches
Can you believe it’s July already, how on earth has that happened?! And as we enter July, we also creep...
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Working Mums – Summer Holiday Childcare
At PaperRocket, we pride ourselves on offering a jargon free, no nonsense service to our clients. PaperRocket was founded by,...
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Covid-19 Support Update
As we reach the month in which, under the Prime Minister’s original ‘roadmap’, we are meant to be returning to...
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P11d Deadline Approaches – What Do YOU Need To Do?
Thank goodness, the 20/21 tax year, and all of the turmoil that came with it, is over, and I’m sure...
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Sole Traders – The Accountancy Need To Knows
As a sole trader, your main priority is, of course, going to be the day to day running of your...
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What To Look For In An Accountant
Whether you have just set up your business, or having been running it for years, making sure that you have...
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Working Mums – Helping Keep the Economy Going
At PaperRocket, we pride ourselves on offering a jargon free, no nonsense service to our clients. PaperRocket was founded by,...
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Covid Isn’t Stopping The Scammers- Make Sure YouDon’t Get Caught Out
Whilst you would hope that a global pandemic would bring out the humanity in people, unfortunately, scammers are actually using...
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Time To Say Goodbye To 2020/21 – Personal Tax Return Tips
With just over a week left in the current 2020/21 tax year, you may well already be thinking about getting...
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Time To Say Goodbye – To The 2020/21 Tax Year
With only a few weeks of the 2020/21 tax year remaining, I think it’s fair to say that most of...
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Budget 2021
It’s safe to say that all eyes were on Rishi Sunak as he stepped up to the despatch box to...
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Self Assessment Deadline Looms
Well, haven’t the first two weeks of 2021 seemed like a lifetime?! Unfortunately, the start of the new year hasn’t...
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A Very ‘2020’ Kind of Christmas
This time last year, it’s fair to say that for most of us, the words ‘coronavirus’, ‘furlough’, ‘social distancing’ and...
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Furlough Extended… Again!
Now, you may well be feeling a sense of déjà vu reading that headline (this blog’s writer certainly is!) as...
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PaperRocket Win Best Contractor Accountancy At TheContracting Awards!
We are absolutely thrilled to announce that last night, at the second Contracting Awards, PaperRocket Accounting was awarded the accolade...
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Furlough Extended As Lockdown Part 2 Approaches
Up until Saturday, despite increasing pressures especially from the North, the government were adamant that furlough would not be extended,...
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Everything You Need To Know About: Confirmation Statements
If you are relatively new to running a company and have received a reminder about filing a confirmation statement, you...
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Keeping Accounting Records- PaperRocket’s Top Tips
When you have your own business, of course, your main priority is going to be its day to day running,...
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Self Assessment Filing- The Time Is Now
Well, 2020 hasn’t exactly been the year we all expected has it? I’m not sure the words coronavirus, furloughing or...
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Chancellor’s Economic Statement
On Tuesday evening, it was announced that the coronavirus restrictions were to be tightened, with 10pmpub and restaurant curfews, and...
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PaperRocket Accounting Shortlisted in Best Accountant Award for the Second Year Running
We are very proud to announce that, for the second year running, PaperRocket has been shortlisted as ‘Best Contractor Accountant...
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Going Electric- The Future of Company Cars?
When you run your own limited company, generally speaking, you are better off purchasing a car personally rather than through...
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Student Loan Repayments For Company Directors and the Self Employed
If you have a student loan, and have recently become a company director or self employed, then you maybe wondering...
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Common Expenses When Running Your Own Business
When running your own business, whether as a limited company or a sole trader, you may be uncertain as to...
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Working From Home Expenditure
As a result of the CV-19 pandemic, a lot more of us will have found ourselves working from home. For...
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Temporary Reduced VAT Rate- What You Need To Know
As part of Chancellor Rishi Sunak’s Summer Economic Statement at the beginning of July, it was announced that from 15th...
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Self Assessment 2nd Payment On Account Due- Or Is It?
With everything that’s been going on in the world recently, you’d be forgiven for having things other than self assessment...
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Summer Economic Statement aka “The Mini Budget”-The Details
With our country (and indeed the world) potentially facing the biggest economic recession since records began, it was announced last...
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A Socially Distanced Summer on the Horizon
It was announced yesterday that from 4th July, England’s new ‘normal’ will begin, with pubs, hairdressers, restaurants, cinemas etc being...
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Furlough Scheme Phasing Out – The Details
Since the furlough scheme was announced on 20th March 2020, more than a quarter of the UK’s workforce (some 8.9...
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Choosing an Accountant- What To Look For
When you first set up your company, it is safe to say that the reason you did so probably wasn’t...
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Further IR35 Reform Delay Looking Unlikely
Back in March, when it became clear that the Covid-19 pandemic was going to dramatically alter the employment landscape, the...
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Why Can’t I Withdraw All My Company Bank Balance As A Dividend?
t is a question that as accountants, we are asked a lot- ‘if my company bank account has £X, why...
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P11ds- What are they, and do I need to do one?
Even though we may have bid adieu to the 19/20 tax year, there are still a number of important filings...
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Happy New Tax Year!
It’s fair to say that with everything going on at the moment, the start of the new tax year could...
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House of Lords IR35 review
With the ongoing coronavirus crisis, what was the hot topic of 2019, IR35 reform, has now taken somewhat of a...
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Covid-19/Coronavirus support for contractors and the self employed
Raise your hand if you’re now longing for the ‘simple’ days of Brexit! As we find ourselves in these extraordinary,...
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IR35 off-payroll reforms delayed
Yesterday evening in the House of Commons, Steve Barclay, Chief Secretary to the Treasury, announced that there is to be...
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Budget 2020
Thanks to Brexit and the surprise Christmas present of a General Election last year, we have been kept waiting for...
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Are you ready to say goodbye to the 19/20 tax year?
March is here, and we can only hope that with it brings a departure to the many storms that we...
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Working Inside IR35- How It Works
With the new IR35 reform being rolled out from 6th April 2020, some contractors are being told that working outside...
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How limited is the liability of a limited company?
If you are new to the world of being your own boss, you may be undecided about whether to work...
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Upcoming IR35 changes- what can YOU do?
With the upcoming IR35 reform in the private sector, and the way in which some of the major businesses have...
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Trivial Benefits vs. Benefits In Kind
With P11d season now upon us, declaring benefits in kind (and paying the relevant NI liability) may well be at...
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Limited company or sole trader? Which is right for me?
So, you’ve made the decision to move away from the employed life and become self employed. When it comes to...
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Important Tax Deadlines To Be Aware of
If you have never run your own company before, then the variety of different taxes and their corresponding deadlines may...
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Umbrella or Limited company, which is right for me?
As a first time contractor, you will need to make many decisions, but the first important one will be how...
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