Financial Accountants | Accounting and Finance Services UK

What’s the difference between an employee and a self-employed contractor?

When you take on a new worker, your duties and responsibilities will vary depending on whether they’re an employee or self-employed. Equally, if you’ve started working somewhere new, your relationship and your tax status will vary depending on your employment status. So, what’s the difference between an employee and a self-employed contractor, and why does […]

What’s behind the term Real Time Information (RTI) in Payroll?

The idea behind Real Time Information (RTI) in Payroll is to make PAYE (Pay As You Earn) submissions more efficient, more accurate and easier to administer. Employers need to submit information to HMRC in real time every time they pay employees. This also affects pension providers every time pensions are paid out.

A quick guide about keeping records for your tax return

If you need to fill in a tax return every year you will also need to keep the records related to the tax year in question. This is the case whether you are an employee, self-employed or run a Limited Company. The rules for keeping records are, however, a bit different for each category.