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 [...]
What are my wages as the director of a private limited company?
If you’ve decided that 2019 is the year you will become a contractor, congratulations. Following the excitement of setting up your own company and choosing which contracts you want to work on, you’ll probably start to think about how you [...]
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 [...]
How to claim childcare costs as a contractor
Childcare costs in England are one of the highest in Europe, according to research by the OCED. The average cost for a child under two in nursery, is £122.46 per week (on a part time basis) and £232.84 per [...]
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 stay [...]
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 [...]
How do Directors Loans work?
As the director of a limited company one of the fundamental things to remember is that the money held within the company does not belong to you. Technically it belongs to the company. However, there may be times when you [...]
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 [...]
Limited Company Checklist
We know how hard you work for your money. In fact, many contractors work in excess of 40 hours a week. So, it is only natural that you want to take the majority of this hard-earned money home. For most [...]
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 [...]
Six month survival guide for first time contractors
Becoming a self-employed contractor is a huge step in your career. You are moving away from the perceived security of employment to the unpredictable world of contracting. However, the majority of contractors will tell you that the benefits of contracting [...]
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 [...]