Are Freelancers and Contractors the Same Thing?

A freelancer and a contractor are two different things, though the terms are often used interchangeably. It’s easy to see why the differences between the two are often overlooked, when both are: Forms of self-employment Temporary additions to a company’s in-house workforce Non-salaried Despite these similarities, freelance work is actually a different beast to contracting,…

Accountants, Are You Talking To Your Clients About MTD for Income Tax Self Assessment (ITSA)?

Let’s start this with another question. Should you be talking to your clients about Making Tax Digital for Income Tax Self Assessment (ITSA)? Guidance around it is still fairly generic, so it’s difficult to offer clients much in the way of detail. But, the internet is slowly filling with articles rehashing what little is known…

Can I Send An Invoice Before I Get My VAT Number?

Registering for VAT isn’t a requirement for starting or operating a business. In fact, a business only needs to register for VAT if its taxable turnover in the previous 12 months hits the registration threshold. But what happens to invoices when a business does become VAT registered? When is a business required to register for…