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Registering your Limited Company for VAT & Making Tax Digital

Registering your Limited Company for VAT & Making Tax Digital

For contractors operating through their own limited company whose turnover exceeds the upper tax threshold, registering for VAT is a legal requirement. The upper tax threshold is also the point at which you need to register for the government’s new digital tax scheme that has been introduced to make the VAT system more efficient. If

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How to land contracts with high value clients

How to land contracts with high value clients

How to land contracts with high value clients For contractors, the primary benefit of working with high value clients is obvious – high value clients will have bigger budgets to spend on projects. This not only offers the contractor the chance to negotiating higher rates of pay, it increases the likelihood of securing longer or

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Budget Update: What can contractors expect?

Budget Update: What can contractors expect?

At the Conservative Party Conference in Birmingham, Philip Hammond stated: “The Conservative Party is, and always will be, the party of business”. Looking ahead to next week’s budget announcement, this assertion could be put to the test. In June Theresa May pledged £20 billion in additional funding for the NHS by 2023. Earlier this month

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Employment rights for contractors? | Contracting Scout

Employment rights for contractors?

Mathew Taylor’s independent 2017 review into Modern Working Practices in Britain drew attention to an insecure ‘gig’ economy where many workers are at risk of exploitation. This led to Prime Minister Theresa May responding to the findings earlier this year by promising millions of workers better holiday and sick pay rights, in addition to stronger

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Why it’s best for the agency the contractor and the client to work together | Contracting Scout

IR35: Why it’s best for the agency, the contractor and the client to work together

According to IPSE’s latest Freelancer Confidence Index, 59% of contractors are wary of the economic conditions ahead. Much of the concern has arisen from recent changes to IR35 (off-payroll working rules) in the public sector, which are also set to apply to the private sector in the near future. The changes place the responsibility for

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contractor finances

4 Ways Contractors Get Their Finances All Wrong

As a contractor, it’s up to you to take responsibility for your lifestyle costs and structure your financial arrangements to cover them. However many contractors overlook simple steps that can be taken to enjoy greater working flexibility, more free time and the potential to increase the money made as an independent contractor when compared to

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Spring Statement 2018 - Contracting Scout

Spring Statement 2018

Spring Statement to have little effect on contractors   Contractors around the UK will be relieved that the Chancellor’s Spring Statement has not led to them paying yet more of their earnings in tax.   Here at Contracting Scout, the team watched the Chancellor give his statement with the fear that there could be more

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finding work through a contractor agency

Working Direct vs Working with a Contractor Agency

Working with an Agency vs Contracting directly – which one to choose?   If you’re considering becoming a contractor, there are a wide range of factors to think about – from marketing yourself as a contractor  to whether you will work directly with your end client or through a contractor agency. Once you’ve done your

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IR35 Rules for private and public sector contractors

IR35 Rules for private and public sector contractors

In our previous article on IR35 we covered key topics such as what is IR35, how to know if IR35 applies to your contract, the different options for payment if you find yourself working under IR35 legislation and penalties that are imposed if you are caught out by IR35.   As a recap, IR35 affects

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IR35 Rules – How do they impact you?

When you’re working as a contractor, it’s important to ensure that you are fully compliant with all regulations and legislation affecting your preferred method of working, particularly if the consequences impact your tax bill.   Also known as intermediaries legislation, IR35 is a set of rules implemented by HMRC that were intended to clearly define

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