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Should contractors include a right of substitution clause in their contracts?

Should contractors include a right of substitution clause in their contracts?

‘Right of substitution’ is one of three primary concepts, along with ‘control’ and ‘mutuality of obligation’, which is used to determine a worker’s employment status. Recent controversy surrounding IR35 and the off-payroll reforms has seen these theoretical concepts scrutinised and put to the test in tax tribunals. In this article, Contracting Scout looks at the

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Why limited company contractors should consider writing a confirmation of arrangements letter

Why limited company contractors should consider writing a confirmation of arrangements letter

For limited company contractors, the debate surrounding how their employment status is determined is a complicated area. The government’s recently published Good Work Plan seeks to address current issues within Britain’s independent labour market. In this report, the government acknowledges that their tax self-assessment tool is inadequate, while the surrounding legislation on employment status requires

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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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Autumn budget announces two-year freeze on VAT threshold

Autumn budget announces two-year freeze on VAT threshold

It was widely speculated that Phillip Hammond would lower the small business VAT threshold to £50,000 in last week’s budget. However, the Chancellor announced that the current threshold will remain frozen at £85,000 for a further two years. This was a welcome break for small businesses and limited company contractors whose turnover is below the

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ultimate finance tips for contractors

8 Ultimate Finance Tips for Limited Company Contractors

Being your own boss as a limited company contractor has many advantages, from greater control over the work you do to simply being able to escape office politics.  For many who choose to work this way, one of the biggest draws is the opportunity to manage your own finances and the potential to earn a

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