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Autumn Statement 2014

Budget Briefcase

There was a lot in the Autumn statement this year, the big ticket items being divulged over the past few days i.e additional £2bn for NHS, £15bn for transport. The chancellor went through the usual forecasts and projections for deficit, GDP, growth and unemployment which obviously had an optimistic spin with a May 2015 election looming. But what were the measures and impact for business and individuals as a whole?

Read more: Autumn Statement 2014

Are you really Non-Resident?

Many oil and gas workers in the north east have been re-located internationally as staff contractors, yet return to the UK when on-leave.

So what are the tax implications for these people?

Taxation for this sub-group of "non-residents" can be significantly affected by their residency status and if you are non-resident there is no requirement for you to pay income tax on earnings made outside the UK – even if the country that you work in is tax-free.

Read more: Are you really Non-Resident?

What are LLPs?

Limited Liability Partnerships (LLP) have been around for a few years now (introduced by the Limited Liability Partnership Act 2000), yet many people are unaware of what exactly they are, how they work and how they differ from a company or a partnership.  

Read more: What are LLPs?

What is the Construction Industry Scheme?

The Construction Industry Scheme (CIS) regulates payments from contractors to subcontractors in the building industry. CIS is administrated by HMRC.

Am I CIS contractor?

Do you use subcontractors for construction work? You must register as a CIS contractor with HMRC.  Are you self-employed and do construction work for a contractor? You must register as a CIS subcontractor with HMRC.

Read more: What is the Construction Industry Scheme?