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24-month rule for travel and subsistence explained

2020-04-30T15:35:44+01:00By |

Being a director of a limited company, entitles you to claim for legitimate expenses that relate ‘wholly, exclusively and necessarily for the running of the business.’ A full list of allowable business expenses is available in our Expenses Guide. Included on this list are travel and subsistence expenses. But it may not come as a [...]

Everything you need to know about Director’s Loan

2020-04-30T15:38:34+01:00By |

Being a director of a limited company comes with lots of responsibilities. One aspect of the role, which sometimes gets played down, is understanding the myriad of complex rules and legislation that come with running a limited company. A Director’s Loan is one of these complicated pieces of legislation that director’s need to be familiar [...]

Claiming interest on buy-to-let mortgages as a contractor

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

Anyone who has rental property or works in tax will know about the relatively recent changes HMRC have made to how landlords are allowed to claim the interest on their mortgages. See below: % of Mortgage Interest can be deducted from profits % available as a basic rate deduction Prior Years 100% 0% 2017-18 75% [...]

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 [...]