Are your workers an employee or a subcontractor? Contractors can face large tax bills if the employment status is incorrect. In the current evolving gig economy the jobs completed by an employee and a subcontractor can be very similar. The […]
What is the difference between an employee and a subcontractor? Read More »
Contractors and subcontractors are different. You will have heard of both business types but how are they different? Many businesses operate as both contractors and subcontractors. We will explain what the difference is between both business types and how they
Contractor vs Subcontractor – What’s the difference? Read More »
There are 3 different types of CIS tax rates applicable. We explain the different Construction Industry tax rates of 30%, 20% and 0%. CIS is not an additional tax. Any deductions suffered, whether they be 30% or 20% can be
We explain what CIS tax is, what construction work is covered by the scheme and how it affects both contractors and subcontractors. Many businesses think that CIS tax is an additional tax. We will show how this assumption is incorrect.
What is CIS Tax? How it affects Contractors and Subcontractors Read More »
A UK tax code informs your employer how much tax to deduct. We explain what each of the different numbers and letters actually mean. Each year HMRC will issue you with a different code for each income source (job and
The Spring Budget was announced on Wednesday 15th March 2023 by the new chancellor Jeremy Hunt in his first ever budget speech. The forecast for the UK economy is gloomy with GDP expected to shrink in 2023. Most individuals and
Spring Budget 2023 – How it affects you and your business? Read More »
Corporation tax is due to rise from 19% to 25% in April 2023. Try our calculator below to see how much extra tax you will pay? In the March 2021 budget the Government announced a corporation tax rise of 6%.
Corporation Tax Rises by 6% – Calculate Your Increase Read More »
The tax code BR stands for Basic Rate. Your income will be taxed at 20%, which will affect your pay. How to correct your BR tax code? Tax code BR is one of the most popular tax codes but very
The tax code D1 means that the income from your job or pension will be taxed at the 45% tax rate. This is the additional rate tax band. Income over £150,000 is taxed at the additional rate in the current
The tax code D0 means you will pay tax at 40% on your income. This is the higher rate tax band. How does a D0 tax code affect your pay? We explain how much tax you will pay with a