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In recent years, increasing numbers of accountants are outsourcing clients accounts, tax returns and payrolls to contracted service providers in the UK and overseas. What does this mean for clients? And does it matter to you? 
For as long as I can remember, I have hated running. I would always try to find a way out of running events on school sports days and look for ways to avoid cross country. I even remember being on the sports field with the PE teacher, Mr Nelson, glancing over at me “running” around the field, and me walking but moving my arms and legs in a running motion! I am sure he wasn’t fooled! 
One of the most common questions I am asked my contractors and other small business owners is “I work from home; can I claim the costs of the rent?” In the blog post, I will explain what you need to consider and what you may be able to claim. 
Ask yourself this....." if you or a fellow Director suffered a medical condition that physically or mentally incapacitated you, how would you keep control of the Company finances?" 
Getting a mortgage when you are an employee is straight forward – 6 months’ payslips, P60 and some bank statements for proof of earnings, but once you are contracting or self-employed, although you are probably earning substantially more, it is proving it that causes the biggest headache. With more hoops to jump through and boxes to tick, here are my top 6 tips. 
Thinking of becoming a contractor or setting up a small business? You’re not alone. According to the Office of National Statistics (ONS) self-employment has risen steadily since 2000. In fact, it’s widely believed that self-employed workers are the backbone of the British economy. If you’re abandoning a steady job in search of the freedom and success that contracting can offer, you need to know the key implications. 
While you were studying at university, loans from the Student Loans Company to cover the cost of fees and maintenance costs may have seemed like a godsend. But once you’ve donned the cap and gown and began post-student life in the workplace, you’re faced with the joyous task of having to repay them. 
 
If you’re a permanent or agency employee, you’ll likely give these repayments little thought. Like income tax and national insurance contributions, student loans are deducted for you, before you receive your net income. And unless you keep a close eye on your payslips, you may not even know how much you’re repaying each month. 
 
For contractors, this responsibility is all yours at the end of each financial year, so it’s important to be aware of how and when you should go about making repayments. 
Many of you may remember from your pre-contracting days that your employer offered free eye tests. But, as a contractor, what are you entitled to? 
At Effective Accounting we’re serious about providing you with an exceptional service, and that includes protecting your privacy and data. 
From 6 April 2018 minimum pension auto-enrolment contributions will increase from 2% (1% employer, 1% employee), to 5% (2% employer, 3% employee). Make sure you are aware of the change and we recommend advising your employees. 
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