Latest legislation affecting contractors
Contracting can be one of the most rewarding ways to work – it gives you greater flexibility over who you work for and when you work. It can also provide the opportunity to work on some truly awesome projects.Yet, anyone [...]
5 reasons to love being an IT contractor
Being a permanent employee means a stable income, a sturdy career path and job security. Right? Well not always. The uncertain economic environment means companies are less keen on hiring permanent IT staff. Instead, they favour the flexibility that hiring [...]
Best pension plans for contractors
The flexibility of being your own boss comes with a lot of benefits, but there are also some downsides to consider as well. One of which is, you do not receive a company pension. As specialist contractor accountants, we strongly [...]
The 10 best paying jobs for contractors
We’ve always believed that working as a contractor is one of the best ways to work. As well as the freedom of choosing when you work, you also have control over who you work for. A report by Bullhorn backs [...]
How to write the perfect invoice
If you decide to work as an independent contractor, one of the tasks you will need to familiarise yourself with is the preparation and issuing of invoices for the services you have provided. Ensuring the invoice contains all the necessary [...]
Flat Rate Scheme: What to do if you are on the wrong trade sector
The VAT Flat Rate Scheme was introduced to simplify the process of calculating VAT returns. The premise of the scheme is that you pay a fixed rate of VAT based on which trade sector your business falls into. However, choosing [...]
Bookkeeping tips for contractors
Bookkeeping is the cornerstone of accounting. Get it wrong and not only could you be in trouble with HMRC, but you could misjudge the financial position of your limited company. In this article, we discuss the integral role that bookkeeping [...]
Buying a company car as a contractor
The majority of contractors use their personal car to travel to and from their clients' offices. Those who do will use HMRC’s Mileage Approved Rates (MAPs) to claim for the cost of these journeys. However, they also have the option [...]
Protect yourself from HMRC scammers
Cybercriminals are using increasingly sophisticated methods to scam people into handing over their personal and bank details. According to the Citizens Advice Bureau around four million people are scammed each year in the UK. The scary thing is, this [...]
What to consider when choosing a business bank account
When forming a limited company, we strongly advise you to open a bank account that will be solely used for the business. Whilst, this isn’t a legal requirement, it will make managing the company’s money that much easier. It is [...]
The difference between an Umbrella and a Limited Company
If you are thinking of becoming a contractor but are unsure how to go about it, this article discusses the different ways to operate and gives pointers to help you decide which route is best suited to you. What are [...]
Fuel efficient cars for contractors
As a contractor who operates through a limited company and who uses your own vehicle to travel to your clients’ office, you should be used to claiming for mileage expenses. With the fluctuating fuel costs, you may have noticed that [...]
Contracting abroad – what to consider
If you are a contractor whose skills are in high-demand, you may at some point in your contracting career find yourself with an offer to work abroad.Not only could this be fantastic for your career, it also offers you the [...]
Don’t get caught out by IR35 in 2018
Upon deciding to become an independent contractor, one of the first things you should acquaint yourself with is the Intermediaries Legislation or IR35 as it is commonly referred to. IR35 is a complex piece of legislation. To help you from [...]
Productivity apps for contractors
It seems like the term ‘productivity’ is the buzzword of the moment. Everyone wants to be more productive with their time. This led us to ask, what is productivity and why is it so important? The technical definition of [...]
Understanding your contract – what to look out for
So, you’ve decided that you want to become a contractor. Your next step will be to decide how you are going to operate as a contractor. Two of the options available is through a limited company or via an umbrella [...]
The importance of a work life balance for contractors
The reason why some choose to become a self-employed contractor is that they want to achieve a better work-life balance. They are tired of being told when and where they must work. The idea behind becoming a contractor is that [...]
Is there a perfect time to become an IT contractor?
There are several reasons why you may choose to work as an IT contractor. It could be that you need greater flexibility and your current role can’t offer this, or it could be that you’ve taken a career break and [...]
What does an accountant do?
A lot of contractors we’ve talked to over the last 20 years have told us one of the things that has made their lives easier has been finding an experienced contractor accountant. We’ve even been described as a contractors’ ‘best [...]
5 top tips to organise your company costs and expenses
Working as a contractor may be new to you, or it may be something that you have been doing for a while. Whatever stage of the contractor life-cycle you're in, there are some things that are good to be reminded [...]