* There are a number of changes coming into effect on 1 October 2009, as a result of the Companies Act 2006, some of the main ones are listed below: Deadline for filing accounts at Companies house is now 9 months after year end Stricter rules on Company Names. Director may file a service address (which [read more]
Credit Checks*Before giving your customer credit, it is advisable to do some checks. Below, in no particular order are some of the checks that could be made: request a bank reference request trade references check the limited company’s details against Companies House credit reference check analysis of customer’s year-end accounts You can ask for bank references, [read more] |
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Sales Invoicing*If you give your customers credit (and most businesses do), it’s important to get your invoicing and customer payments systems in order. The obvious benefit is to aid cash flow and it is the first step to good credit control and fewer bad debts. Some while ago, I posted about some basic details that need to [read more] |
Are you inside or outside IR35*HMRC publishes an introduction and a list of guiding questions to help you to decide whether you fall inside or outside IR35. You will need to examine whether IR35 applies on a “contract by contract” basis. It is possible to have some contracts within IR35 and some outside IR35 The circumstances of your “intermediary” is [read more] |
Who is affected by IR35*Although, traditionally IR35 affected IT contractors and engineers, the legislation is not actually limited to a particular trade, occupation or business sector. If you personally perform services for your customer, through an intermediary, but you could be deemed an employee of your customer if it were not for the existence of the intermediary, you could [read more] |
What is IR35*IR35 was first propsed in 1999 and was introduced into UK legislation in 2000. The primary aim has been to prevent the avoidance of tax and national insurance by trading through an intermediary (commonly a limited company) rather than being an employee. Prior to IR35, individuals could form a limited company and invoice their “client”/”employer” [read more] |
How to Register as an Employer*It is generally possible to register as an employer by telephone or email (if special circumstances apply, you may have to register via and HMRC office). Either way, you will need the following information to hand: general information about yourself and your company (including your national insurance number and UTR number – unique taxpayer reference [read more] |
