FCSA set to meet with the Office of Tax Simplification (OTS)

The Office of Tax Simplification (OTS) had issued two consultations that impact on freelancers operating through their own companies. You can read the consultation documents here:


Lookthrough taxation is a way of taxing small companies and their owners that allocates the profits (including all income and gains) of the company to the proprietors. For tax purposes, the company is ignored (so no corporation tax) and instead the owners are taxed directly on the company’s income under income tax and CGT rules. The model is not complete and the paper discusses many issues where input is needed.

Read Lookthrough Discussion Paper >

Sole Enterprise with Protected Assets (SEPA)

OTS are exploring a Sole Enterprise with Protected Assets (SEPA) model, which would make provision for protecting one or more of the assets of a self-employed individual. It would be a way of providing a degree of personal asset protection to business owners, potentially eliminating the need to incorporate solely for limited liability.

Read SEPA Discussion Paper >

Managing Director of First Freelance, Mark Beal-Preston, will be representing the FCSA along with other FCSA Members, in face to face discussions with John Whiting CBE, Tax Director at OTS and his team. The meeting is set to take place at 10 am on Thursday 8 September in London.

Updates to follow in due course.

Published on: 19 August 2016 - By: First Freelance

I'm an accountant myself but I must say I couldn't have done without the support of First Freelance. – Mugu S.

What I love is that they took the time to meet me in person. I certainly feel I can trust them. – Nadia D.

First Freelance have provided me with excellent support every step of the way. They genuinely care. – Bhargavi P.

The team are knowledgeable and their customer service is outstanding! – Chieme M.

I've worked with many accountants over the years. None have come close to First Freelance. – Daniel J.

They genuinely care about my business and personal finances. – Jennifer W.

First Freelance have provided me with an outstanding level of expertise. I highly recommend them! – Linda P.

I love having 24/7 visibility of my business finances. The 'live' business bank feed is an excellent feature. – Guido M.

What I love is that they took the time to meet me in person and explain everything clearly. – Olufunmilayo A.


Joining First Freelance couldn't be simpler, please provide some basic details and a member of the team will be in touch with you shortly!

Fill out this form to request a callback

You may want to consider:

There are additional factors you may wish to take into consideration. Simply fill in the
form below for a free personalised report tailored to your personal circumstances.

Sign up to our newsletter to receive important tax updates and news that is relevant to you.
We promise to never spam you!