IR35 reform to the Private Sector

IR35 reform to the Private Sector

IR35 is an anti-avoidance tax that has been around since the turn of the century. It’s objective is to prevent individuals that would otherwise be an employee from engaging via a limited company and receiving the tax benefits associated with being in business. Since...
Can I employ a family member?

Can I employ a family member?

As with claiming a tax deduction for any business expense, a salary must be paid on a commercial basis, wholly and exclusively for the purposes of business. It follows that if you employ a family member to carry out a function of the business; firstly, they must...
Incorporating a Limited Company

Incorporating a Limited Company

For a lot of people, the formation of a limited company represents the first steps towards being your own boss. The formation of a company is a relatively straight-forward process. All companies require a name, shareholders, directors, a registered office and articles...
How to pay yourself

How to pay yourself

So, you’ve taken the jump into self-employment. You’ve won your first client and done the work. Now how do you get paid? Quite simply, you must issue an invoice to your customer and provide with them with the means of making a payment. What an invoice must contain...
What to consider when appointing an accountant

What to consider when appointing an accountant

Appointing an accountant is a huge decision when starting your business, you are putting your business finance in the hands of somebody that (in a lot of cases) you know nothing about. Here we consider some things to look for when researching an accountant: Are they a...
What is the future of accounting?

What is the future of accounting?

The accounting profession has recently started to undergo a major shift. The ‘traditional’ desktop hosted accounting packages, spreadsheets and paper-based record keeping are swiftly moving towards cloud based systems. Accounting looks to follow many other industries...