Salary/dividends

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Can I furlough myself as a Limited Company Contractor?

2020-04-30T15:37:04+01:00By |

Under the Government’s Coronavirus business support measures announced this week, it has been indicated that some Limited Company contractors may be covered by the ‘Job retention scheme’ and therefore can furlough themselves if unable to work due to Covid-19. There is a distinction in law between a director with a service contract and a director [...]

Your options when working inside IR35

2020-04-30T14:39:03+01:00By |

With April quickly approaching and the proposed IR35 changes to private sector contracts set to come into force, we’re continuing to delve deeper into IR35 and the potential implications it will have on contractors. Our ‘IR35 Survival Guide’ addresses lots of points, but we thought we’d cover what your options are if your contract is [...]

How will my take-home pay be affected by IR35?

2020-04-30T14:36:01+01:00By |

Working through a limited company is one of the most tax-efficient ways to work as an independent contractor. This set up tends to work well for contractors who are deemed as working ‘outside of IR35’, but if you’re caught ‘inside IR35’ it’s highly likely you’ll pay more tax. Let’s look at how your take-home pay [...]

5 ways to increase your take-home pay 

2020-04-30T15:35:45+01:00By |

One reason why people choose to become contractors is that they can have the ability to earn more than they did as an employee. This is because they can charge higher rates and if they think about how they structure their work (e.g. working through a limited company versus working through an umbrella company) they [...]

What are dividends and when can they be paid?

2020-04-30T15:37:04+01:00By |

If you’re an independent contractor who is working through your own limited company, as well as being a director, you will also likely be a shareholder. This means you are entitled to receive dividend payments on any retained profits that are held within the company. In this article, we explain in further detail what dividend [...]