Tag Archive | "hire contractor accountant"

“DO IT NOW!” – Tax Return Warning


If you want to abide by the law and not get in trouble, then listen up, because what I’m about to say is very important.

As you may or may not be aware, it is the time of the year for doing tax returns, with the 31st of January being the deadline to get it in.

Now I know what you are probably thinking – “The 31st of January is 21 days away. I’ve got more than enough time to get this done.”

Perhaps, but if you want my advice…”DO IT NOW!”

Just like that homework you used to put off years ago. You waited and waited and waited…and then waited some more. And then, on the morning it was due you still had not done it.

Back then the teacher might have given you a firm caning for forgetting your homework.

However, while the HMRC are not quite as sadistic, they still punish you for forgetting your “homework” and missing the tax return deadline.

You can expect an immediate fine of £100 for being forgetful, followed by even more charges up to a maximum of £900 over the next few months.

Not only that, but HMRC also have the power to slap you with even more fines if they see fit. You could end up paying way more than you should, which is why you should take action now.

The best way to fill in your tax return is on the HMRC official website. You do everything online and send it off straight away. There is nothing complicated.

Or if you don’t have the time or you just can’t be bothered, then you should hire a contractor accountant.

The best contractor accountants can do your tax return for you and make sure it is sent in on time. No problem at all.

With that being said, the best contractor accountants are very much in demand at this time of the year. Many of them work around the clock to make sure their clients are looked after and their tax returns are completed, but there are still only so many hours in the day.

If you look to the right of the page then you will see our recommended contractor accountants. The best of the best.

All of these contractor accountants can do your tax return, but they only have limited spaces remaining.

So take our advice and “DO IT NOW!” and hire a contractor accountant today.

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Turkey + Tax Return = A Contractor Christmas


Most people are happy with just turkey on Christmas day. A chance to eat as much as they can and spend time with family.

Contractors, on the other hand, are a different breed. Sure, they sit down to turkey and mash potato just like regular people but that is where the parallels stop.

While ordinary folk spend most of Christmas and New Year eating turkey, the vast majority of contractors are hard at work making sure their tax affairs are in order.

For example, according to official statistics from HMRC there was 2,616 online self assessments filed on Christmas day, and I’m willing to bet you a large portion of these people were contractors.

It is you, the hard working contractor who always wants to make sure the HMRC is paid in full and on time, and if that means doing your tax return immediately after a turkey dinner and before Christmas pudding…then so be it.

During the peak time of turkey eating (1pm to 2pm) on Christmas Day there was 230 online tax returns sent in. This means some contractors are skipping the turkey and trimmings altogether, and getting straight down to work just like it is any other day.

These contractors probably have no time for presents, and no time for the Queens speech. Do they even know its Christmas? Probably not.

But they get the job done, and by sending in their tax return at Christmas they make sure everything is sorted way before the 31st January deadline.

Boxing day was just as popular for sending in those self assessment forms to HMRC. According to official statistics, a total of 8,465 people connected to the internet and did their tax return, and of course, many of those thousands would have been contractors.

If you are reading this now and you have not done your tax return yet, then don’t fret, because there is still time and you are not late to the party…yet.

However, if you leave it much longer then you will be late. In fact, you will be just like the guy who arrives in fancy dress to a party that isn’t fancy dress. If you see what I mean.

The 31st of January is this years deadline for self assessment and if you didn’t get it sorted over Christmas then my advice is to do it now.

And if you can’t be bothered to do it? Then hire a contractor accountant.

If you pay them enough money then they will do everything for you, including sending in your tax return.

Find the best contractor accountants, right now, by looking to the right hand side of the page.

Make sure you hurry though, because the demand for the top contractor accountants is crazy at this time of year (as you can imagine) and there is only a limited amount of spaces on their books. So you must act now.

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ALERT: New HMRC Scam Targets Uni Students


It seems these fake HMRC scammers (phishers) don’t give up. They keep reeling in victims, and this time its Uni Students who are the target.

Up and down the country, there are millions of uni students who are packing a bag and going home for the holidays. A break from the endless study, no doubt. A chance to kick back, relax, and have a few alcoholic drinks. A chance to relax.

In the midst of this is a simple letter. It looks official. There is the initials “HMRC” on the envelope. The Uni students opens it right up, and they quickly see the words…

“You Are Due a Tax Refund!”

That is like poetry to the eyes a uni student. They have been struggling financially all year long and now a chance to get a few thousand quid in their bank account.

So they don’t even question it.

“It’s official. It’s from HMRC,” they say.

Unfortunately, it is anything but official. It is very unofficial and downright wrong.

Yes it is the handy work of those fraudsters yet again. Regular readers of the Contractor Accountant Blog will be well aware of them by now.

What they are doing is sending out fake tax refund letters to uni students around the country, and then using this bait to get personal details, bank details, and to steal money.

The thing is…these fake HMRC are very clever in the way they setup the scam. It’s the small details that make all the difference.

For example, they use what appear to be genuine university email addresses to send out emails as a follow up to the letter, and they also send out texts to phones as a reminder. Everything looks totally legitimate.

And of course, the uni student is in the middle of getting ready to go back home for the holidays, so its easy to get caught up in the scam without giving it too much thought.

However, Christmas is not going to come early for any uni student that falls for the scam, and instead, they are going to become yet another victim to these scammers.

Here at CA we realise that many of these uni students are the future foundation of our contractor economy.

They are the future readers of the Contractor Accountant Blog, and the future customers of our recommended contractor accountants.

So if you are reading this…uni student…then our advice is hire a contractor accountant and let them deal with the HMRC and anything tax related. Our expert contractor accountants can spot a scam a mile off. You are safe with them.

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34.6% Towards TAX!


Here in the UK we pay more tax than just about anywhere else. Wouldn’t you agree? It doesn’t get any better either, according to a new report.

A new report tells us that 34.6% of national output is going towards some form of tax. In other words, you are being hit in the pocket, again and again, year after year.

Especially contractors and freelancers. You are being made to pay more tax than just about anybody. And it isn’t going to get any easier, either.

A certain Mr Philip Hammond, the Chancellor of our country has only just begun when it comes to the subject of tax. He has his sights firmly locked on the contractors and freelancers of this country, and he wants more of your dough.

Does he want that dough to make a nice big pizza? Yes he does, but he doesn’t want to share any of that pizza. He wants it all to himself. He won’t even give you a bite.

The brand new report was commissioned by the Taxpayers Alliance, and what they found is that our tax burden is at its highest for 50 years.

Yes you read that right. Not since the swinging sixties have we had such burden. You would have thought by now we would be paying less tax, not more of it. But we are. They had it better in the seventies, eighties, nineties, and noughties, and here we are, right now, where the tax situation is worse than ever before.

Just what can be done to shove it to the likes of Hammond and his gang? Oh I don’t know…how about hiring a contractor accountant for starters.

If you are a contractor or freelancer and you are fed up with spending most of your money on tax then a contractor accountant is your perfect match.

They laugh at 34.6% tax.

“Ha Ha,” said the contractor accountant.

“I have to pay it,” you say.

“Not if you do exactly what I say, and with your permission, you now choose to pay less,” they will reply.

“Isn’t that kind of thing against the law?” you say.

“No it isn’t, there are many ways you can choose to legally pay less tax, we know all about them and with your permission we would like you to choose us to do it for you.”

You can find these knowledgable and trustworthy contractor accountants at this website. Simply look to the right of the page right now and see who we recommend.

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Making Tax Digital Makes a Comeback


We all thought making tax digital had been shelved. Officials at HMRC had apparently “pulled the plug” on the idea.

To be honest, most contractors were happy at the news. They didn’t like the idea of filing a tax return 4 times a year…even if it was online.

Well, get ready to be shocked, because word on the street is that making tax digital is making a comeback.

Yes you read that right. While the millions of contractors and self employed of our nation assumed MTD had gone the way of the dinosaurs, it appears HMRC were working behind the scenes, in a secret lab in a undisclosed location, in order to bring back the idea of a quarterly tax return online.

In fact, if recent reports are to be trusted then HMRC already have 35 software suppliers who are chomping at the bit to get this thing “LIVE” and “PUBLIC.”

Not only that, but 18 small businesses have completed a round of testing of the software, and they say everything is almost ready to launch.

When exactly? Next April according to insider sources, where high income contractors will be expected to report their earnings on a quarterly basis.

Hang on a minute. Have we not heard this one before? I seem to remember reporting a few times about how MTD was getting ready to launch…only to have the rug pulled out from under us all at the last minute.

It got shelved so quietly that many pundits wondered if it would ever see the light of day again. Well, here we are once again and yes, the light of day is about to be seen.

If it really is a GREEN LIGHT on project MTD then we can expect chaos in the contracting world.

As I mentioned earlier, most contractors were luke warm at best on the idea of doing a tax return 4 times a year, and there were some who just downright disliked the idea.

Also, let’s not forget that it requires digital financial records to be kept if you have to file your tax returns online, and in my opinion, this is sure to ignite mayhem and confusion among those contractors who try to go it alone.

The solution? A contractor accountant of course…who else? Nobody.

If you have a contractor accountant in your corner then they can become your go-to expert on all things “making tax digital.”

You can even hand everything over to them and allow them to wave their magic wand and get everything setup for you.

You might not agree with MTD…but you can make it a lot easier with a contractor accountant.

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750,000 Miss Tax Return Deadline – DOH!


Despite me talking about the 31st January tax return deadline over the last few weeks, it seems that many self employed people have not been listening.

750,000 to be exact, who according to HMRC did not get their online tax return submitted by midnight last night. This includes contractors as well remember, many of whom are no doubt regular readers of this website.

The only word that comes to mind is “DOH!” Do these people not realise that a £100 fine will now be on the way to their mailbox. They must pay it as well, because if they don’t then even more fines could be added on top. It really is a good idea to just write out a cheque and learn from your mistake.

With that being said, there was over 10 million self employed people that did get their online tax return in on time. So it appears that quite a few of you have got things sorted and are not messing about…probably with the help of a contractor accountant, no doubt.

It was certainly a rush to the finish line for approximately 30,000 people last night between 11pm and 11:59pm, all of whom just managed to get their return submitted before the clock struck 12.

A minute or two later and they would have been fined, so you can imagine that quite a few people were breaking a sweat.

Things are getting better though. Yes 750,000 of our nations self employed did not get their tax return through on time, but last year that number was at 840,000. People are learning.

Perhaps it has a lot to do with the advert from HMRC that did the rounds recently? The advert featured ducks quacking as a way to remind everybody of the tax return deadline. Money well spent then.

If you are one of the contractors who missed the deadline yesterday then all may not be lost and you might not have to write a cheque. The reason? Because a good excuse will save you from being fined, although many have tried and many have failed going down this particular road.

Remember last week when I wrote a blog post about the most ludicrous excuses for filing a late tax return? In that post I mentioned how one man claimed it was because of “aliens,” while another mentioned it was because his business “didn’t really do anything.”

The one excuse you definitely don’t want to be using is “I don’t have a contractor accountant.” The HMRC are not going to fall for that one because they know how straight forward it is to find a professional.

Right here on this website is one such place, where in no time at all you can hire a contractor accountant to make sure your next tax return is submitted in time.

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