IR35 in 2021/22: Why you could be better off without a limited company

Are you a contractor? Do you plan on working through your own limited company in the 2021/22 tax year? New IR35 rules could mean that it’s time to rethink the limited way of working.

In case you haven’t heard, there’s been some big changes to the way IR35 rules are applied to contractors working with large and medium sized businesses.

bounce back loan cloudaccountant

Any businesses that took out a government Bounce Back Loan to get through the coronavirus pandemic will now have greater flexibility in when and how they repay, it has been announced.

Along with our regular in-house software training sessions and technical updates, the main focus of our training plans at the beginning of this year is understanding how post-Brexit Trade impacts on our clients.

It’s business as usual at CloudAccountant.co.uk

The new lockdown means that the team are working remotely but rest assured this won’t have an adverse impact on service levels. We’re confident we can maintain the level of service and customer care we pride ourselves in along with the capacity to support our accountancy clients.

From all the Team at CloudAccountant & AgencyAccountant We would like to wish you a fabulous festive season and a Happy New Year!

This year has been turbulent and challenging for all and we are excited to welcome in the new year and are hopeful that normality is within reach.

In 2020, as well as continuing our market lead in the world of eCommerce accountancy, CloudAccountant launched our specialist recruitment agency brand, AgencyAccountant, and we’re proud to have seen the brand and client base grow during the year.

How small firms should respond to the Chancellor’s new budget

Last week, the Chancellor delivered one of the most significant budgets in recent memory. Before the budget was released, the Government were keen to stress that some tax rises would be needed to help pay for the coronavirus response.

Many small firms will avoid one of the biggest tax hikes, but how should self-employed people, limited company directors and other small business owners be looking to respond to the budget? We’ll look at the most important changes and how they could affect your business below.

Business ideas with the biggest earning potential in 2021

Coronavirus disruption contributed to an uptick in the number of new business registrations in 2020 and experts predict more of the same this year.

Obviously money isn’t everything when it comes to entrepreneurship. Many people start businesses because they want more freedom or independence or because they are passionate about a side-project or product, but if your new business venture doesn’t make any money, then it’s not going to be sustainable.

So what kinds of businesses are going to make you money? Here is our list of businesses with the biggest earning potential.

VAT: An introduction for small businesses

Registering for VAT can feel scary for businesses, but it is an essential part of growth. In this brief introduction to the tax, we give you all the most important information to help you grow more comfortable with the tax.

Lockdown 3: What Support is Available for Businesses?

Following the latest announcements from Boris Johnson and Nicola Sturgeon, England and Scotland have now joined Wales in new national lockdowns.

The new restrictions mean that people should only leave home for an essential purpose, such as to buy food or medicine. This means that, along with schools, large swathes of businesses now need to close their doors.

While some shops and hospitality businesses will still be able to offer click and collect and takeaway services, they are likely to see a dip in sales. Many other businesses may also see their revenue fall as demand dries up, similar to the first lockdown in March 2020.

To help support businesses through his latest period of uncertainty, the Chancellor Rishi Sunak has announced some additional funding alongside some older schemes that are still open to businesses.

Guide to Tax Relief for Festive Gifts and Christmas Parties

‘Tis the season of giving! We’ve put together this handy guide to explain what tax relief you can receive when you gift employees, clients and charities this festive season.

You may want to thank your employees for their hard work, throw a virtual staff party or give a gift to a client.

It’s important to understand what can and cannot be claimed through the expenses of your Limited company, so as not to overspend and potentially avoid all tax relief.

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