Can you claim free childcare whilst working through your Limited Company?
Ask any parent what the most expensive part of having children is, and the majority will most likely tell you it’s childcare costs. Second to your monthly mortgage or rental costs, you may find that what you pay in [...]
What are the differences between leasing and hire purchase, and how much tax can you expect to pay on electric cars?
Are you running your own Limited Company and considering switching to an electric car? Before taking the leap it’s worth understanding the taxable implications that come with an electric car, and how this can be affected by the final [...]
What are your Limited Company director’s responsibilities and key dates throughout the financial year?
Directors of Limited Companies have legal responsibilities, such as filing/submitting various forms and returns to Companies House and HMRC throughout the financial year. If you’re new to contracting you may be unsure as to what needs to be done [...]
How do dividends for Limited Company owners work?
When running your Limited Company, it's important to understand how dividends work in order to maximise your take-home pay and become more tax efficient. Whilst consulting your specialist accountant is recommended for precise guidance, it’s useful to grasp the [...]
2024/25 tax year rates and allowances
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 [...]
What’s the difference between a Sole Trader and a Limited Company?
If your New Year’s resolution was to take the leap into self-employment, you may be wondering how do you get started, what are your options, and how do you know which route is the right one to take? In [...]
The SG Team’s skydive raises an incredible amount for Dorset Mind
Last year The SG Accounting team took on the 3-Peaks Challenge and raised over £2,500 for a great cause. This year we set our sights even higher (15,000ft higher to be exact!), and aimed to raise £3,000 for a [...]
A guide to the cost of living crisis for Limited Company contractors working at home
Working from home in the UK can be costly, especially considering the current cost of living crisis. It’s therefore more important than ever to review your energy consumption and other costs, so you can keep more of your earnings. [...]
Is making charitable donations through your Limited Company more tax efficient?
Supporting causes that are important to you through charitable donations is a great thing to do. What you may not know, however, is that using your Limited Company for these donations can also lead to significant tax benefits. In [...]
The pros and cons of contracting through a Limited Company as an IT Contractor
When considering IT contracting as a career path, many find that operating through their own Limited Company is the best option, as it can add a certain level of credibility to your level of professionalism, and shows you're serious [...]
Business Bank Account FAQs
What’s the difference between my personal bank account and a business bank account? When you set up a business it's a great idea to get a separate business bank account set up. Your business and personal affairs, including finances, [...]
SG’s 6 top tips for setting up a Limited Company as an IT Contractor
When you’re first starting out as an IT contractor and need to set up a Limited Company, it can be a really exciting time. With your skills, ambition, and strong work ethic, you're ready to take the leap. However, [...]
Your first year as an IT Contractor – riding out the early months to success
Your first year as an IT Contractor – riding out the early months to success Surviving your first year as an IT contractor can be challenging, but with proper preparation and guidance, you can navigate through it successfully. And [...]
Strategies to generate leads as an IT Contractor
Strategies to generate leads as an IT Contractor IT contractors often rely on recruitment agencies to secure work due to convenience and ease of access to job opportunities. However, marketing your contracting business can open doors for clients to [...]
A comprehensive guide to dividends for Limited Company Contractors
As a Limited Company contractor, understanding dividends is essential for maximising your take-home pay and becoming more tax efficient. Whilst consulting your specialist contractor accountant is recommended for precise guidance, it's useful to grasp the basics of dividends for [...]
The Spring Budget 2023
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 [...]
2023/24 Tax Changes / Rates
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 [...]
How to maximise your tax efficiency before tax year end 5 April 2023
Allowable expenses Claim all of your allowable expenses – you can read our expenses guide here Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting [...]
Limited Company key dates throughout the financial year – your responsibilities and what you need to file with Companies House and HMRC
Directors of Limited Companies have legal responsibilities, such as filing / submitting various forms and returns to Companies House and HMRC throughout the financial year. If you’re new to contracting you may be unsure as to what [...]
What is your company yearend and what do you need to know?
If you’re new to owning a Limited Company you’ll need to complete your yearend, but what exactly is it, and why do you need to complete one? In this blog we explore just that, to ensure you’re a pro [...]