What Records Should I Keep for IR35?

Contractors are an important part of both the private and public sectors, contributing more than £300bn to the UK economy every year, and covering a range of roles, from HGV drivers to bricklayers, architects to accountants, and engineers to plumbers, to name just a few. IR35 was introduced to help minimise the risk of tax…

The Client and Contractor’s Guide to IR35

IR35 is definitely a tricky one to get your head around, and if you’re a freelancer or contractor who regularly works closely with the same clients, you’re probably wondering if it affects you. At a very basic level, the trick is to ask yourself, am I an ‘employee in disguise’? Not in the literal sense…

Bookkeeping for Contractors

Deciding to become a self-employed contractor is a huge step in your career, especially if you’re moving away from the relative comfort of employment. You might feel a bit nervous, but this is such an exciting time with the freedom to set your own hours, focus on projects you feel passionate about, or even decline…

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The 24 Month Rule for Contractor Expenses

Like most self-employed people, contractors can usually claim business-related expenses against their tax bill. Contracting tends to involve working with a client over a specific period of time though, so to avoid any sneaky claims for tax relief from people who are actually working more like an employee, HMRC introduced the 24 month rule to…

Are Freelancers and Contractors the Same Thing?

Are Freelancers and Contractors the Same Thing?

A freelancer and a contractor are technically two separate things, but the terms are often used interchangeably. It’s easy to see why this happens because they both see a self-employed person providing work and services to another business. The terms do describe different ways of working though, so it’s useful to understand how they operate…