A selection of business news and articles to help make your business a success
Less than half of self-employed workers, who use their vehicle for work purposes, are aware of HMRC’s simplified mileage rates, according to its own research. The flat rate deduction is 45p per mile for the first 10,000 miles and 25p for every mile after this. These...
Employees on PAYE who need to make expenses claims can no longer currently make their claims online, and instead will have to use a postal system to deal with HMRC. Anyone who has out-of-pocket expenses for their job is entitled to claim tax relief on these from HMRC....
Christmas parties or even regular summer BBQs, or annual team building events may need to be declared to HMRC for the current 2022/23 tax year if they do not meet certain rules, so you need to be sure you meet all the relevant rules for the exemption. The key...
Some freelancers spend a lot of time behind the desk. Others barely sit down. Every self-employed worker is different. And, as a result, tax liabilities are never quite the same for any two people. Those who travel frequently, for example, may be entitled to claim...
When it comes to self-employed benefits, few rank higher than the tax you can claw back for expenses. The nature of your business demands a certain standard of results: the tools and arrangements to meet it, in many cases, class as an investment. But it's not always...
A freelancer or contractor, having finally made their leap to independence, will probably begin their journey at home, with a steaming cup of coffee at 9am most mornings. It’s a no-brainer – you don’t have the funds for professional office rental, and your operation...
Bright Ideas is well-versed in saving money for contractors and freelancers new to the game, yet it’s a sad truth that even veteran business owners can get expense claims muddled when HMRC comes calling. Tax exemption is such a broad church of analysis that mistakes...
As a freelancer or contractor in the UK, you are responsible for keeping track of your income and ensuring that you are paying the correct amount of taxes each financial year. While hiring a professional bookkeeper is always best practice, you should be aware that you...
What expenses can I claim for? This is a question as contractor accountants that we hear a lot! Expenses should only be claimed if they are wholly and exclusively for the purpose of the business. They will vary dependant on factors such as location, sector type etc....
Does your current accountant give 1-to-1 support? Are they fast and thorough?
Slap-dash services hold businesses back, so try our expert accountants instead. We make the transition simple, get in contact with us today and we’ll start the process.
Let’s make your finances Brighter
Call us Monday to Friday 9am - 5pm