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Contractor guide to optimising VAT and the Flat Rate Scheme when starting out
Contractors can time their VAT and Flat Rate Scheme (FRS) registration to optimise VAT recovery when starting up, says James Abbott of Abbott Moore.
�mise their VAT recovery when first starting their contracting careers. “ Limited company contractors should tim�
Category: Articles: Tax Issues | Tue, 13 May 2014

Difference between tax avoidance and tax evasion
Contractors can use strategies for tax avoidance as the practice is perfectly legal, whereas deliberate tax evasion is illegal and a criminal offence.
�ately don't pay the tax they should HMRC In a contracting context, this could involve deliberately falsifyi�
Category: Articles: Tax Issues | Thu, 29 May 2014

Contractor tax avoidance schemes – understanding the benefits and risks
Contractors entering into tax avoidance schemes might find that they work, but there can be many pitfalls, as James Abbott of Abbott Moore explains.
�s, this is not an issue. But Abbott has seen many contracts from clients that stipulate no offshore entities� �s are particular about the entity with which they contract. For regular limited company contractors, or umbr�
Category: Articles: Tax Issues | Thu, 03 Jul 2014

Tax residency rules for individual contractors and contractor limited companies
Contractors and their limited companies are subject to legislation that clarifies their tax residency status, explains James Abbott of Abbott Moore.
�t of time in order that they can deliver on their contracts.” Depending on how many ties a contractor has, an� �xed in the UK. When working on a typical overseas contract where the contractor works from the client’s offi�
Category: Articles: Tax Issues | Wed, 12 Jun 2013

Oil and gas contractor guide to tax and expenses when working offshore
Oil and gas contractors working offshore are subject to similar tax and expenses rules as onshore contractors, notes Pipeline Account’s Martin Watt.
�s contractors, so they should ensure they conduct contract reviews, secure a confirmation of arrangements fr�
Category: Articles: Tax Issues | Tue, 30 Jul 2013

Contractor guide to the advantages and disadvantages of being VAT registered
Contactors unlikely to earn more than £79,000 are not required to register for VAT, but there are advantages and disadvantages to non-registration.
�there are some advantages to non-registration for contracting businesses. The first is the reduction in adminis�
Category: Articles: Tax Issues | Tue, 24 Sept 2013

Minimising the risk of an HMRC investigation
Contractors can minimise the risk of being investigated by HMRC by taking simple yet effective measures, explains Abbott Moore’s James Abbott.
�accurate tax returns can be based,” says Abbott. Contracting businesses failing to maintain adequate records f�
Category: Articles: Tax Issues | Wed, 27 Nov 2013

Contractor guide to the General Anti-Abuse Rule (GAAR)
Contractors should take into account the General Anti-Abuse Rule (GAAR) when making tax-planning decisions, says James Abbott of Abbott Moore.
�houldn’t be a target. GAAR may become a threat to contracting in 5-10 years But Abbott’s concern is that HMRC h�
Category: Articles: Tax Issues | Thu, 11 Apr 2013

How National Insurance Contributions (NICs) are calculated
Contractors may be liable to pay National Insurance Contributions (NICs). Calculating how much should be paid depends on the nature of their earnings.
�agency payroll and those on fixed-term employment contracts do. Unlike income tax, NICs are only applied to a� �cy payroll and those on fixed-term employment contract pay NICs Class 1 NICs rates for the 2013/14 tax y�
Category: Articles: Tax Issues | Thu, 02 May 2013

Retrospective tax-reducing strategies for contractors who overpaid in previous years
Contractors can adopt tax strategies that may reduce their tax liability arising from previous financial years, says Abbott Moore’s James Abbott.
�d those who might have temporarily stepped out of contracting to work on a fixed-term employment contract . Abb� �of contracting to work on a fixed-term employment contract . Abbott explains: “As is the case with all contr�
Category: Articles: Tax Issues | Tue, 14 May 2013