Accountants in Town End Farm

Inside-IR35 and outside-IR35 engagements need different setups — sometimes umbrella, sometimes the company, sometimes both across a year. Contractors who plan this per-engagement keep more and worry less.

Directors paying themselves a salary still need a PAYE scheme and RTI submissions, even in a one-person company. It's a five-minute monthly task with software — and a recurring penalty generator without it.

Disposing of crypto — selling, swapping one coin for another, spending it — is a capital gains event, and staking or mining income is usually income. Exchanges share data with HMRC, so the tax position exists whether or not it's been calculated.

Subcontractors under the Construction Industry Scheme have 20% deducted at source — often more than their final tax bill once expenses and the personal allowance are counted. That's why CIS refunds are so common: the average claim is well into four figures, but only if the deduction statements are all gathered.

Miss 31 January and the £100 fine is automatic; three months later daily penalties start. If you're behind on a return, the maths almost always favours filing quickly over waiting — penalties grow on a timetable, and HMRC charges interest either way.

The best time to switch is after a filing, but it works at any point in the year. What matters is not letting a looming deadline stop you: a new firm can usually pick up an in-flight year faster than you'd think.

Register with HMRC by the 5 October after your first tax year of trading, open a separate business account, and put a fixed slice of every payment aside for tax. Do those three things and your first January will be boring — the good kind.

Timing disposals across tax years, using losses properly, and the spousal transfer rules can all legitimately reduce capital gains bills — but only before the sale. CGT planning after completion is just arithmetic.