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 [...]
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 [...]
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 [...]
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 [...]
How to get tax-free childcare for contractors
If you’re a contractor and have children, you can choose to pay for their childcare costs through your limited company. The benefit of this is that it may qualify for tax relief and National Insurance Contributions exemption. This is great [...]
Pensions and Tax Advice for Contractors
If you choose, you can retire at 55. Sounds very tempting, doesn’t it? What would you do with your retirement? Spend it travelling? Maybe you would like to learn a new skill? There are so many options. However, in order [...]
The top certifications your accountant should have
You work hard for your money, so you want to make sure that the person you ask to look after it knows what they are doing. It’s easy for an accountant to boast about their experience and how many clients [...]
Changes to childcare vouchers – what it means for contractors
The date is set. From 6th April 2018, the childcare voucher scheme will close to new applicants. Those already in the scheme can continue to use it.This week’s article delves into the change and discusses what it means for contractors.Childcare [...]
Use This Trick to Fund Your Staff Party This Year
As the nights grow cold and dark, thoughts naturally turn to celebrating the end of another year. With hard work (and a little luck), you will have plenty to be proud of and find your business in an even better [...]
4 Things Not to Say to Your Accountant
When hiring an accountant, there are standard questions to ask. How much are fees, can they manage your tax preparations and filings, is your data safe, and what is expected from you in return (i.e. do you need to fill [...]
Director’s loans – can you get a loan from your company?
A director can loan money to or receive a loan from a limited company but it is important that the tax implications are understood to avoid any surprise tax bills.Loaning money to a limited companyA director can lend money to [...]
Contractor loan schemes
If it sounds too good to be true it normally is! George Osborne announced in the Summer Budget there would be more funds available to HMRC to counter tax avoidance schemes (high profile cases such as Jimmy Carr and Chris Moyles [...]