Preparing for Retirement

There are many reasons why people who could retire are hesitant to do so. Some people think they need to wait until they’re 65 or older. Some are worried about running out of money. Many parents want to keep supporting their children through some major life transition, like university, marriage, or buying a first home. Maybe the most common reason we see for a retirement delay is individuals who just can’t imagine their lives without work. That’s understandable. A routine that’s sustained you and your family for 30 or 40 years can be a hard routine to shake. But retirement doesn’t have to be all or nothing right away; many people these days will gradually reduce their hours, perhaps working

Possible changes ahead for Contractors

IR35 rules are designed to assess whether an individual working through their own Personal Service Company should actually be treated as an employee and paid through the PAYE system. Workers using Personal Service Companies have the advantage of being able to draw dividends which are generally more tax efficient, and not subject to National Insurance. Changes were introduced in April 2017 in the public sector, which meant that public bodies using contractors were effectively responsible for enforcing these so-called IR35 rules. Private sector contractors are already subject to IR35 rules, but a consultation has been launched by HMRC into how rules will operate that make firms liable for dete

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