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 [...]
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 [...]
What insurance does my limited company need?
You may not think that running a limited company is risky, and the majority of time it’s not. Yet, it’s important that you try and plan as much as possible for scenarios that could affect your business and your income.Taking [...]
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 [...]
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 [...]
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 [...]
Life as an IT Contractor
Are you dissatisfied with your current role? Do you find yourself sitting and looking at your screen dreaming of what it would be like to ‘go it alone’ and become a contractor? If this sounds like you – dream no [...]
5 Mistakes People Make When Doing Their Own VAT Return
Completing your VAT Return can be a stressful task if you leave it to the last minute, or don’t keep proper records of your income and expenses. Here at SG Accounting, we have seen many VAT Returns, and here are [...]
When to Complete Your Tax Returns
Running your own business comes with responsibilities. You may now pay salaries to employees/directors and dividends to shareholders, manage end of year paperwork, and network with potential clients for your next flourishing role. You welcome these tasks as your new [...]
Top 6 Tips for Setting Up a Limited Company
Deciding to create your own limited company is a thrilling experience. You’ve got the skills, ambition, and work ethic. It is something you’ve been itching to do and now you’re ready. But do you know what incorporation entails? We’ve developed [...]
5 Skills You Need to be a Successful IT Contractor
When a person decides to leave a permanent role in exchange for running his/her own IT contracting business, this fact alone shows an initiative and mindset needed to succeed in contracting. But the necessary skills for financial and professional [...]