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 [...]
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 [...]
Corporation Tax Rate increases in April 2023
Back in the March 2021 Budget it was announced that there would be an increase in Corporation Tax from April 2023, so how much will this ultimately cost you and your business? In this blog we look at what’s [...]
Staff entertainment as a business expense – are you able to claim?
With lockdown and social distancing a thing of everyone’s distant memory, you may be looking forward to getting out and about this summer. So whilst the restrictions on socialising have been lifted, what are the rules in regards to [...]
How to avoid the most common Limited Company contractor pitfalls
For the most part, contracting through your own Limited Company is great. You get to choose when, where and who you work for, along with your day rate. But whilst there’s plenty of perks to contracting, there could also be [...]
A Limited Company contractor’s guide to getting paid your worth and negotiating your day rate
Sadly it’s never been so expensive to live and work in the UK. With a rise in National Insurance, the ever increasing price of energy, fuel, food and other basic commodities, if you’re able to increase your rates in [...]
Making Tax Digital – a contractor’s look at when, where and how you’ll be affected
What is Making Tax Digital (MTD)? MTD is the government’s plan to transform the tax system and move everything online. The Treasury minister Jesse Norman, has hailed the expansion of MTD the ‘next step to creating a modernised digital tax [...]
The Budget October 2021
Autumn Budget 2021 The Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Main Budget proposals [...]
Taking money from your Limited Company & how tax is affected
If you find yourself needing to take money out of your Limited Company there’s a few things you’ll need to be aware of before you do so, one of which is the tax implications. In this blog we take [...]
Business insurance – what a Limited Company contractor needs to know
As a contractor you’ll want to be able to contract worry-free, knowing that you’re 100% covered should the unexpected happen. In order to be able to do so, you’ll want to ensure you have the correct insurance in place, but [...]
As a Limited Company contractor should you pay National Insurance?
If you’re new to contracting you’ll probably have lots of questions about how your company is run and what your tax obligations are. One of which is your National Insurance Contributions. But should you even pay them? In this [...]
The Status Determination Statement (SDS) – do you have yours?
As a Limited Company contractor the IR35 reform has probably played a big part in your year so far, including ensuring you were ready for whatever it had up its sleeve for you. But has your end hirer / client [...]
A guide to dividends and what you need to know as a Limited Company contractor
For Limited Company contractors, dividends are a fantastic way to maximise your take home pay and increase your tax-efficiency, but getting your head around them can be a little tricky. Whilst it’s always a good idea to have the [...]
The VAT Deferral Scheme
On February 11th HMRC announced that as part of its COVID-19 support, all VAT registered businesses were able to defer their VAT liabilities generating between March 20th and June 30th 2020 to help with their cashflow. In this blog [...]
Thinking about a career in contracting? Here’s everything you’ll need to get going in 2021
Congratulations on your decision to take the leap into contracting! What a fantastically exciting career you’re about to embark on. So where do you start? In this blog we guide you through the key areas you’ll need to consider before [...]
Preparing for IR35 – a checklist of everything you need to consider and start doing now
The IR35 reform has been talked about, planned and postponed, but as we inch ever closer to April its myth is quickly becoming a reality. Whilst we’re unable to stop it from happening, we can ensure we’re all ready for [...]
Working inside IR35? You can challenge your end-hirer / client’s decision
If you find yourself with an ‘inside’ IR35 status determination, and you believe that you are truly ‘outside’ then you are able to challenge the end-hirer / client’s decision. You may feel that a wrong determination has been made [...]
Using your Limited Company abroad post-Brexit
The UK will be leaving the EU on December 31st, so what does that mean for contractors using their Limited Company outside of the UK? In this blog we explore the way in which you can contract abroad, post-Brexit. [...]
Salary, dividends or both? How to effectively pay yourself as a Limited Company contractor
One of the financial benefits of being a Limited Company contractor is having the ability to choose how to pay yourself in the most tax efficient way. The most common way of doing so is by using a combination [...]