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IPSE holds free financial advice event for UK contractors

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It’s that time of year again, when contractors need to ensure they have their self-assessment completed ready to pay their tax for the year. 

As the tax return deadline date approaches at the end of the month, the IPSE (Association of Independent Professionals and the Self Employed) is hosting a free financial advice event on 21st January, to help those who are self-employed to get their books in order. 

The Freelancer Moneybox event, which takes place today from 6pm, in central London, will give people the opportunity to speak to financial experts. 

Chris Bryce, Chief Executive of IPSE, said, “The deadline for self-assessment tax returns is looming making January a daunting time for the self-employed. The endless jargon and box-ticking takes hours to complete, even for the more experienced freelancers, so that’s why we’re putting on this event to give independent professionals the support and advice they need.” 

He added, “In the first Freelancer MoneyBox of 2015, we are encouraging all freelancers, from those just starting out to those who have been their own boss for years, to start the New Year in order. As well as helping with self-assessment returns, experts will also be on hand to advise on everything from mortgages and insurance to debt collection and insolvency.” 

Ten of the worst excuses for late filing and missing tax return payment 

As mentioned previously, the deadline date for contractor’s tax return is looming.

As the 31st January approaches, HM Revenue & Customs has released a list of the most terrible excuses for missing the deadline. It’s safe to say that the excuses were all used in unsuccessful appeals against HMRC penalties for late filing and payment..! 

  • My pet dog ate my tax return… And all the reminders.
  • I was up a mountain in Wales, and couldn’t find a postbox or get internet signal.
  • I fell in with the wrong crowd.
  • I’ve been travelling the world, trying to escape from a foreign intelligence agency.
  • Barack Obama is in charge of my finances.
  • I’ve been busy looking after a flock of escaped parrots and some fox cubs.
  • A work colleague borrowed my tax return, to photocopy it, and didn’t give it back.
  • I live in a camper van in a supermarket car park.
  • My girlfriend’s pregnant.
  • I was in Australia. 

HMRC Director General of Personal Tax, Ruth Owen, commented, “People can have a genuine excuse for missing a tax deadline, but owning a pet with a taste for HMRC envelopes isn’t one of them.

“You need to file your 2013/14 tax return online, and pay what you owe, by 31 January. But it’s best to do it now, to allow plenty of time to sort out any issues with your return. That way, you’ll avoid the busy period for our phone lines as the deadline approaches.”

How much could you be earning as a contractor? Type in your daily or hourly rate into our contractor calculator and see how much you could be taking home.

For more information on contracting, speak to a member of our new business team on 01442 275789 or email newbusiness@sjdaccountancy.com.

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