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We are currently busying away preparing your company’s 2013/14 Year End Accounts (if your company’s yearend is 5th April) and Personal Tax Returns. In some cases, we haven’t received all...

When considering which trading method to take, sole traders often become out of one or more of the following conditions; They are contracting for the sake of one contract of...

Last year, contractors were affected by the biggest change to payroll procedures in decades; Real Time Information (RTI). The new legislation meant that contractors would have to start filing payroll...

We like to hope that nobody is so terrified of the big bad Revenue that they lie awake at night in fear of them, but those who are pounced upon...

Submission of inaccurate VAT Returns can be costly and can be avoided by ensuring we have all the relevant information from you to declare the right tax at the right...

Especially if you are looking to get funding in order to start your business from a bank or investor, but also if you want to have some achievable targets in...

To get the best service on offer from your accountant, you have to dance the tango. What we mean by that is you both have to be reciprocal and responsive,...

There are so many different kinds of tax, it can be a little scary when you become self-employed and have to know which ones apply to you, so here’s a...

Web-based software is growing in popularity at an exceeding rate, and there are good reasons for it, with the development of ‘the cloud’ or SaaS (software as a service), most...

What IR35 is and The Financial Implications That Come Along With it It has posed a serious challenge since it was introduced in 2000, and it’s been causing a great...

With numerous different companies popping up ready to serve all the accounting needs of contractors, expertise on IR35 has become one of the benefits that accountants are readily promoting themselves...

At FW Accounting, we see many contractors looking to set up limited companies. When we incorporate your limited company (which we do for free I might add), you become the...

In HMRC’s efforts to help contractors understand the legislation and give some guidelines to self-assess their status, the Business Entity Test was born. The test is a series of questions,...

There has been a lot of hype in the media at the moment around sourcing local produce and parting with your cash to independent stores as opposed to large chains...

What is a disguised employee? Contractors operating via a limited company are subject to the scrutiny of the IR35 legislation with the dreaded worst-case scenario of being caught by the...

Being your own boss is a freedom which leads many into the contracting business. With less legislative requirements then operating via a limited company, often being a sole trader is...

After a sustained period of speculation, George Osborne finally unveiled the contents of his red briefcase in the form of his annual budget speech last week. Perhaps thankfully, nothing featured...

As we fast approach the January 31st Personal Tax deadline, we thought we should remind you of what needs done and why with regards to your personal tax obligations. Do...

HMRC recently published a warning for people thinking about tax avoidance schemes – ‘Tempted by Tax Avoidance?’ A small minority are lured by the promise of large tax savings for...

What are the risks? The participants of EBTs that have been highlighted in many reports, tend to have gone into the schemes in good faith, often as a result of...

[lead] During the past few months much has been reported of HMRC opening a large number of enquiries into the tax affairs of Contractors who do or have been operating...

What are Dividends? Dividends are payments made to company shareholders from the profits of the company. If the company has not made a profit over a given period then it...

[lead]May and June are important months in the calendar for accounting. This post will explain what dates are coming up and whether you need to do anything as a Limited...

[lead] With summer approaching, why not take advantage of the Cycle to Work Scheme and purchase a bicycle via your company. Save money on fuel bills and improve your fitness,...

[lead] “VAT is a simple tax…” so said Anthony Barber, Chancellor of the Exchequer on the introduction of VAT on April’ Fool’s Day in 1973. [/lead] 40 years on and...

[lead] George Osborne chose budget day for his twitter debut. His first tweet promised to ‘tackle the economy’s problems head on’ and help those who want to ‘work hard and...

[lead] Accounting is an essential requirement for any Contractor, but it can be a complicated area. Not only does accounting require the careful management and lodging of financial records, but...

[lead] From April 2013 there will be the biggest change to payroll procedures for over 60 years coming into force. Despite what you may have heard or read.. Real Time...

Why should I submit a personal tax return: As a Director of a UK Ltd Company you are legally obliged to file a personal tax return each year. If your...

This week we have seen some of our famous, most British of brands fall into administration. HMV was our first this week, with 230 stores shut, and the farewell to...

In simple terms, No is the answer. A few months ago FW Accounting closed their Umbrella Solutions business stream. This was due to a number of reasons, with the main...

Each New Year after the festivities we often sit and think about how we are going to better ourselves for the following year, what our New Year Resolutions will be....

Christmas is the time for giving so why not be tax efficient at the same time? Corporation tax relief and even personal tax relief can be achieved by making charitable...

An Update from FW Accounting on George Osborne’s Autumn Statement 2012 and how it affects Contractors’ IR35 status from Mervyn Stanley of FW Accounting. If you missed it, you might...

At FW Accounting, we feel it’s our moral obligation to ensure that each of our Contractor/Freelancer clients and followers are operating in an IR35 compliant manner. We value this as...

As a Freelancer or Contractor one of your biggest concerns, after finding work, is being paid! You may expect to be paid 7, 14 or 30 days after emailing your...

Over 10 and a half million people in the UK have been sent a notice by HMRC to file a tax return for the 2011/2012 tax year. Many people have...

Are you a Limited Company Director looking to save money on childcare by setting up Childcare vouchers? Well we hope this little guide will help you out. How the Government...

At a recent Ernst & Young Accountancy event which one of our FW Accounting representatives attended, HMRC touched on the recent media cover relating to offshore Tax Avoidance schemes, and...

Welcome today to our guest blogger Andi Ramsay of Developing Perceptions Photography, touching on the Highs and Lows of working as a Freelance Photographer. I hope anyone considering a leap...

PayPal’s Claim: ‘It’s safer, it’s faster and it’s everywhere. Use PayPal to shop at thousands of web-sites, knowing that your financial details are never shared’ But what do local freelance...

These days I am constantly musing about what the word ‘local’ really means when it comes to business. Social Media People I ‘speak’ to on LinkedIn, Facebook and Twitter seem...

We hope you enjoyed Part 1 and Part 2 of Miles’ top tips on how to generate leads and opportunities for Contractors and Freelancers.   The final part of our mini-series on...

We hope you enjoyed Part 1 of Miles’ top tips on how to generate leads and opportunities for Contractors and Freelancers. To recap: Our very own Sales Director has kindly...

If you are new to contracting or freelancing your first thought is likely to be ‘what’s the best trading method for me?’ It is important to get proper balanced advice...

We thought it best to take a look at the common worries about things you might miss out on when you move from a staffy position to a Contract: ‘You...

 So you are keen to leave your PAYE job and become an IT contractor, or you have built up some IT skills and contacts, so Contracting seems the best option...

If you are considering becoming a Contractor or Freelancer chances are you are already trawling the marketplace for a Specialist Contractor or Freelancer Accountant, or maybe you already have an...

 Are you an ‘Oldpreneur’ in the making? Are you a Silver Surfer ready to ride a new wave of working? This is the time to do it!   Mick Jackson...

Last week we went over Director Responsibilities for Limited Company Directors – you can check out that blog here If you are, or are thinking of trading as a Sole...

Calling Limited Company Directors who need a Business Car! Lower your corporation tax by buying and driving a car? AND be safe in the knowledge that you are lowering your...

Woohoo! The sun is shining and I’m sitting in the shade of a pavement café in West London enjoying the frothiest of coffees, and watching the world pass me by....

At FW Accounting, we know how tricky it can be to get a Mortgage sorted as our clients tell us – it’s a major frustration for them. The Usual Scenario:...

A contractor’s worst nightmare would be to be ‘caught’ by IR35 Legislation – i.e. you appear to be working as if you are an employee of a company, rather than...

Many Contractors and Freelancers come to us keen to start up a Limited Company, this might be either because their end client requires them to have one, or because they...

As we approach the end of August, it’s hard to believe that the Personal Tax Year ended 4 months ago – on the 5th of April 2012. To help us...

When starting up as a freelancer or contractor, you will want to consider what the best trading method is for you; below I will go over what is required whether...

When starting up as a freelancer or contractor, you will want to consider what the best trading method is for you; below I will go over what is required whether...

At FW Accounting, we know that being IR35 compliant is very important to contractors and freelancers; if you are ‘caught by IR35’ then HMRC will treat your income from that...

Following on from my last blog (here if you missed it) on the pro’s and con’s of the lifestyle side of being self employed , today I am going to go...

Here at FW Accounting we are always keen to keep you up to date with all legislation that affects Self Employed individuals. If you haven’t already, please feel free to...

In 2004 when we setup GHRL very few people had heard the term Interim Manager. Consultants had a bad name – I think they still do? We wanted to make...

 Have you heard of the Flat Rate VAT scheme? Maybe you want to know more about it and find out what the benefits could be to your business? Well,...

Why should you use us as your Accountant? Rather than hear it from us, have a look at what our clients say: According to them, here are the five main...

It’s that time of the year when we look at the Budget announced by Government and expain how it may affect you  – whether you are a contractor, Sole Trader...

Welcome to #Accountingin140! The #Accountingin140 Campaign is designed to bring no-nonsense, plain English definitions to accounting terms which often appear overly complex and incomprehensible to non-accountants. Disclaimer: While  the #Accountingin140 campaign is...

Who pays National Insurance? You pay National Insurance contributions, whether you’re an employee or self-employed, you’re aged 16 or over and you earn more than a certain level, in order to build...

 Knowing what tax applies to you and which you have to pay when self employed can be slightly daunting! This week’s blog, and accompanying video will hopefully give you...

Overall, given the state of the UK economy, yesterday’s Autumn Statement is a positive attempt to stimulate growth. Here are the key points you should be taking note of as...