IR35, new changes from on 6 April 2020

News relating to IR35 abound. Read on to see if the latest changes, taking place on 6 April 2020, will impact you. Back in 2017, the onus to prove one’s self-employed status shifted from the contractors to the company that hires them across the public sector. This April, private companies (medium to large organisations) must also take on the responsibility to determine a contractor’s IR35……

Small Business: Use technology to your advantage

Small businesses in London can certainly use technologies to build stronger capabilities and seize growth opportunities. In October 2019, when high street chains Karen Millen and Coast went into administrations and announced closures, the online fashion chain Boohoo acted swiftly to snap up the two brands following their collapse. But Boohoo is not keeping the stores open, instead they choose…

Small Business: Motivating your employees

The performance of your employees has an impact on your bottom line and here are 11 useful tips that can help. Numerous studies have suggested that highly engaged employees are more likely to exceed performance targets and achieve success. As not every employee shares the same personality type and not everyone is motived by the same incentive, how you should go about motivating your employees is…

Tax guide for Christmas gifts

Non-cash Christmas gifts cost less than £50 an item can be considered as ‘trivial benefits’. As the calendar year comes to an end and Christmas approaches, many small business owners in the festive spirit enjoy giving a token of appreciation to the team members. But before you go and splash out, here are the tax rules you need to be aware of. Cash or vouchers which can be converted to cash are…

Small Business: Reducing the risks associated with temp staff

Are your temporary employees fraudsters in disguise? In this article, we help you to understand and reduce the risks of temporary hires. Whether it is hiring more baristas, cashiers, or security personal, SMEs often require extra pairs of hands at certain times of the year, such as during the summer months and during the festive season in November and December. The four weeks leading to…

How to lighten your workload as a contractor

Here at TaxAgility, we believe that managing your financial affairs can be an extra hassle that contractors simply don’t need, which is why our specialist contractor accountants are on hand to lighten your workload and give you that work-life balance you deserve. What is a contractor? Contractors are self-employed individuals who have escaped ‘traditional’ company-dictated working hours by…

10 things to avoid when starting a business

According to the Office for National Statistics, just 41.4% of UK businesses survive after five years (Statistical bulletin: Business demography, UK, 2015). There are many reasons why companies fail, from running out of cash to inappropriate partnerships. Entrepreneurs know that there are many factors contributing to the success of a business, from having a secured financial foundation to…

The complete guide to buying a small business

Buying a small business can be a great opportunity or first step into the world of business without starting from scratch, but there are a few things you need to know before you seal the deal. Every day in the UK, there are small business owners who are ready to retire or want to change focus, giving aspiring individuals a chance to buy an established business with an existing customer base.…

The complete guide to business funding

Finding the right source of funding is key to the success of every start-up. Learning all about funding, as well as the tips when seeking out a business loan, is vital on the road to growth. Turning an idea into a business and growing an operation requires money. To help kick-start, sustain, or expand the business, entrepreneurs look to the usual sources of funding including family members, angel…

Tax planning for families

Family tax planning is a smart way to utilise all of the exemptions and allowances legally afforded to you. In the UK, every individual has a personal tax-free allowance and is taxed independently. This applies to working parents, retired grandparents and also children. Because of this tax structure, it is possible to use legitimate means to reduce the joint size of your family’s tax bill.…