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Welcome to Contractor Corner, the series written specifically by Qdos Contractor for accountants with clients who are contractors. Covid-19 and its impact on contract roles All the way back in March 2020 we were plunged into our first national lockdown.…
To provide a small antidote to the gloom of the pandemic, Tony Monger proffers a light-hearted approach to handling your relationship with HMRC. We have all had that nagging feeling in the back of our mind that something might just…
New figures show that despite the pandemic the number of companies formed in the UK reached a new record high in 2020, writes John Korchak. In the whole of the UK, there were 780,766 new companies formed – somewhat of…
Graham Hambly explains how a new initiative could help kickstart a young person’s career with a traineeship. Employers can now apply for a £1,000 cash boost to help them take on new trainees, the government has announced. The new Traineeship…
Medical accounting expert Philip Redhead highlights two important topics for accountants with GP clients. In this article I’d like to bring your attention to two topical matters regarding GP pensions’ excess annual allowance tax charges on their pension contributions, and…
Mark McLaughlin highlights a relaxation in a normal business asset disposal relief condition that could be helpful to some company shareholders. Many company owners hope to claim business asset disposal relief (BADR, formerly known as entrepreneurs’ relief) on an eventual…
Sam O’Connor has some advice on how you can take advantage of changes to the tax regime to boost your profitability. With Making Tax Digital for Income Tax (MTD IT) on the horizon, we’ve been exploring what it means for…
Lucinda and Jeremy Kitchin have some advice for those looking to buy an accountancy practice or a block of fees. If you spend any time looking at listings of accountancy practices for sale, you’ll notice that there is a significant…
This is an appeal on a complex Stamp Duty Land Tax (SDLT) avoidance scheme involving annuities. A property valued at £765,00 was purchased for a cash price of £38,250 and a promise to pay an annuity of £383 per year.…
I’d like to recommend a brilliant new guide to illegal dividends from tax expert Lee Sharpe. ‘Illegal Dividends and the Pandemic’, which is available as a free download, is a compilation of a series of three articles that were published…