Self-employed worry and how Ship Shape can help

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Research commissioned by accounting software firm KashFlow showed that sole traders and micro businesses are spending 19 million hours every month, equivalent to 2.5 million working days, managing their finances with 50% lacking in confidence and a third stressing over the task. Around 15% of those surveyed said that managing their business finances was the thing they least enjoyed about… Read more »

Higher VAT costs for smaller traders

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April 2017 will see many small companies with low annual costs faced with a higher VAT liability if they currently use the Flat Rate scheme (FRS). What will the change mean for contractors? First, there is a change to the way ‘labour intensive’ companies will calculate their VAT liabilities for each quarter. The standard VAT scheme requires companies to calculate… Read more »

Freelance group calls for statutory definition of self-employment

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IPSE, the freelancer group, says the government should create a statutory definition of self-employment. This would end confusion over who is and is not self-employed. Currently, the law defines an employee and a worker, but has no definition for the self-employed. IPSE made its call when it was asked to give evidence to Matthew Taylor’s investigation into modern employment practices…. Read more »

HMRC ESS tool has no legal authority

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Determining a contractor’s IR35 status is important, but recently HMRC’s Employment Status Service (ESS) has been called into question. One authority says that the tool is not legally binding and even using it does not mean that reasonable care has been taken in determining status. The statement came from The Law Place’s Martyn Valentine. His firm specialises in employment status… Read more »

NIC hike withdrawn

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In an embarrassing climb-down, Chancellor, Phillip Hammond, was forced to withdraw a plan announced in the Budget on 8 March to increase Class 4 National Insurance contributions. The move was widely criticised and, to the relief of the self-employed, the Chancellor was forced to announce withdrawal of the plan in the face of continuing complaints that the increase would break… Read more »

Tax delay not enough

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Following the Budget 2017 one-man companies with turnovers below the VAT limit should have more than an extra year before being forced to go digital. Many tax bodies have made a joint statement saying that, while the delay was welcome, Making Tax Digital (MTD) should be optional for companies with turnovers below the £83,000 limit. The tax bodies agreed with… Read more »

Lidl Headquarters given go-ahead

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The Mayor of London has given Lidl, the German discount supermarket, the go-ahead for its new £70 million headquarters. This new London construction project has been designed by M Mosser Associates. When complete, the building will have 240,000 square feet of offices at Tolworth, West London. It will replace the company’s current headquarters in Wimbledon. Lidl wants to move to… Read more »

Back Crossrail, ministers told

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Sixty-six property developers and house builders have called on the government to back Crossrail 2, as a way to tackle London’s housing crisis. Leaders from some of the UK’s largest house builders and London’s large housing associations have written a letter to the Chancellor, Communities Secretary, and Transport Secretary, putting the case for how the next phase of Crossrail would… Read more »

Fourth Stratford Project

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Developers have been given consent for a fourth major building at the International Quarter in Stratford, East London. Stirk Harbour and partners have designed this new London construction project. When finished, the new building will have 280,000 square feet of workspace, over 10 stories, and will hold a prominent location at the site. Preparation work is currently being carried out,… Read more »

Kingston town revamp approved

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The green light has been given for a £400 million scheme to regenerate the Eden Walk shopping centre in the heart of Kingston, in West London. This new London construction project, designed by BDP Architects, will see new restaurants, shops, and a new cinema atop a refurbished multi-storey car park, with almost 400 flats in the surrounding buildings. The new… Read more »