Blog Post

Are you a Company Director or Self-Employed?

  • By Ross Brinsdon (TLA)
  • •
  • 01 Apr, 2020
  • •
TLA have received many calls from clients who are confused whether they are classed as being Self-Employed or a Company Director per HMRC; the easy answer is as follows:

• If you operate your business using a limited company you are a director of an owner managed limited company and therefor you are a company director and not self-employed 

• If you run a sole trade or are a partner in a business you are classed as self-employed as your effectively work for your, per the HMRC guidelines > please visit this HMRC link for more information https://www.gov.uk/working-for-yourself

Please also note that the term “Freelance” or “Freelancer” is neither of the above, it is the actual business vehicle that you trade under that determines whether you a company director or self-employed.

Now that you've established if your a company director you should also be aware of your duties responsibilities to Companies House & HMRC; the links below will provide more information:

2022 Spring Budget Statement Highlights

By Ross Brinsdon - TLA • 23 Mar, 2022
2022 Spring Budget Statement Highlights

New "one-off" £500 payment for working households receiving tax credits

By Ross Brinsdon • 23 Mar, 2021

If you’re part of a working household that receives tax credits, you may be eligible for a new one-off payment of £500. The new payment is being introduced to provide extra support when the temporary increase in Working Tax Credit  ends as planned on 5 April 2021.

You may get a one-off, tax-free payment of £500 if, on 2 March 2021, you were getting either:

  • Working Tax Credit
  • Child Tax Credit and were eligible for Working Tax Credit but you did not get a payment because your income is too high to get Working Tax Credit payments

You do not need to contact HMRC or apply for the payment. HMRC will contact you by text message or letter in April 2021 to confirm you are eligible.

If you are eligible, you should get your payment direct to your bank account by 23 April 2021. HMRC have confirmed that you will not see the payment on the online tax credit service.

The payment is non-taxable and will not affect your benefits. You do not need to declare it as income for Self-Assessment tax returns or for tax credit claims and renewals.

What is the true cost of redundancy?

By Ross Brinsdon (TLA) • 26 May, 2020
Advice on how to assist both employers and employees with the tricky path of redundancy.

How to claim your Self-Employment Income Support Scheme (SEISS) Grant?

By Ross Brinsdon (TLA) • 07 May, 2020
How to claim your Self Employment Income Support Scheme (SEISS) Grant from HMRC

New 100% government backed loan scheme for small businesses

By Ross Brinsdon (TLA) • 27 Apr, 2020
New Loan Scheme introduced on 27 April 2020 for small businesses - Quick and Simple Application and Approval Process for Loans up to £ 50,000 (based on 25% of business turnover)

HMRC Extends Furlough scheme cut-off date to 19 March 2020

By Ross Brinsdon (TLA) • 15 Apr, 2020
HMRC have extended the employee cut off date to be eligible for furlough pay from 28 February to 19 March 2020

Job Retention Scheme Portal to go live on 20 April 2020

By Ross Brinsdon (TLA) • 08 Apr, 2020
Coronavirus Job Retention Scheme (CJRS) Portal to go live for businesses to claim for their furlough workers pay on 20 April 2020.

In the new age of mass homeworking in the UK, we discuss the topic of Electronic Signatures

By Ross Brinsdon (TLA) • 01 Apr, 2020
Are electronic signatures legally binding?

Are you a Company Director or Self-Employed?

By Ross Brinsdon (TLA) • 01 Apr, 2020
This post will help determine whether you a Company Director or Self-Employed per HMRC.

Tax Efficient Director Salary and Dividends 2020/2021

By Ross Brinsdon (TLA) • 01 Apr, 2020
This post is intended to explain the tax efficient optimised wages (Salary) for directors for the 2020-2021.
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