Can a limited company loan money to another limited company?
If you operate as a contractor through your own limited company, you may be asked, or you may want to loan money from your limited company to another. It may be the company asking for the money is a [...]
Making a will as a contractor
We all know that we should make a will, yet figures released in 2018 by Unbiased show that a staggering 60% of UK adults (approximately 31 million people) don’t have a will. Reasons given for not making a will include [...]
Our Managing Director’s take on the Spring Statement
The Chancellor has said before that the Spring Statement would be more of a fiscal state of the nation than an opportunity to announce new legislation but with the backdrop of the Brexit vote defeat last night and further votes [...]
Can I reclaim expenses from before I formed my limited company?
If you spent money on setting up your business before you incorporated it, you may be able to claim for some or all of these pre-trading expenses, as long as they are legitimate business expenses. This article looks at [...]
2019 Loan Charge
With less than one month until the changes on outstanding disguised remuneration loans (also referred to as 2019 Loan Charge) kicks in, we take this time to give you the low down on everything you need to know. Background to [...]
Getting a mortgage as a self-employed contractor
Owning a home is a dream for many of us, but if you work as a self-employed contractor, you may have seen first-hand how tricky it can be to obtain a mortgage. That’s because mortgage lenders want to ensure [...]
Overseas contracting: top things to remember when contracting abroad
If you’ve had enough of the British weather and pine for warmer weather, or, if you’re keen to try out working in a different country, then contracting overseas could be a great option. Plus, it’s never been easier to work [...]
Directors Loan: 5 things you should know
It’s not a well-known fact, but it is possible to loan money from your limited company. This is referred to as a Directors Loan, and it is defined as “money which is taken out of a limited company which [...]
Is my private limited company IR35 compliant?
Working as a contractor is an exciting career path, but it also involves understanding a plethora of tax regulations. One of the most complex areas of tax for contractors is the Intermediaries Legislation, otherwise known as IR35. Significant changes have [...]
Contractors in 2019: Trends to look out for in 2019
A new year is an exciting time. New resolutions are made (and sometimes quickly broken), and new career goals are planned. If you’re an experienced contractor, you may be looking to branch out into a new area, or if you [...]
What does a limited company accountant cost?
Being a director of a limited company, comes with additional responsibilities, like filing paperwork and accounts with Companies House and HMRC by specific dates. Failure to do so can lead to you to being penalised. Finding the time to [...]
Making tax digital from April 2019
With effect from 1st April 2019 HMRC requires that businesses for whom VAT returns are mandatory file their returns in line with the new Making Tax Digital (MTD) requirements. If your taxable turnover is greater than the VAT registration threshold [...]
Being paid by an umbrella company
If you’re thinking of becoming a contractor, the two main ways you can work are through your own limited company or via an umbrella company. We advise individuals who are serious about contracting or who want to work the most [...]
Late payments: what are your rights?
Working in the service industry means that at some point you will encounter a client who fails to pay your invoice on time. Chasing clients for unpaid invoices can be stressful and it also wastes a lot of time. On [...]
Private sector IR35 reform – what it means for contractors
When the reform to the Intermediaries Legislation (also referred to as IR35) was introduced to the public sector in April 2017, many in the industry speculated it wouldn’t be long until it was extended to the private sector. Well, they [...]
Pensions for contractors with limited companies
Retirement may be something you are longing for or something that you dread. Whichever one you are, the earlier you start planning for it the better. The age at which we can receive a state pension is rising (66 [...]
The Budget 2018: here’s what you need to know
The Chancellor, Philip Hammond stood up at 3.30 pm on Monday 29th October to make his third budget speech and more importantly his last one before the UK leaves the EU. We’ve worked our way through his lengthy list of [...]
Autumn Budget Report 2018
Chancellor Philip Hammond presented this year’s Autumn Budget earlier than usual, due in part to the crucial final stages of the government’s Brexit talks with the EU.In our budget blog we provide an overview of the key announcements featuring in the [...]
Budgeting Tips for Contractors
For many, the draw of contracting is being able to choose who you work for, where you work and the rate you want to charge. The flexibility that contracting offers, does have a downside – getting a contract is never [...]
Do I need an accountant as a contractor working through my limited company?
As an independent contractor working through your own limited company, your days are mostly spent working on your client’s projects. The last thing you want to do after a busy day is to sit down and look over your accounts [...]