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 [...]
SG’s 7 top tips for Limited Company contractors to reduce your income tax bill in 2022
The tax year is now in full swing and whilst you currently might not be considering tax, it’s still a good idea to understand it’s importance, and how making it work in your favour could ultimately mean more money [...]
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 [...]
Tax planning for 2022 and beyond
Tax planning for 2022/23 To get the most from a Limited Company, it's worth looking ahead to the coming year and planning accordingly. But what does this mean for contractors, and what do you need to look out for? [...]
A Limited Company Contractor’s year-end tax checklist
Don't miss out, be sure to make the most of your tax-saving opportunities before April 6 2022. The end of the current tax year is almost here, so now is the perfect time to take stock of any unused [...]
Can your Limited Company contribute to your pension?
When you’re busy building your contracting empire, you’ll want to rest easy knowing that your future is taken care of, usually in the form of a pension. So is your Limited Company able to make contributions? This blog explores [...]
The effects of the levy on dividend rates in April 2022 and how this affects small business owners
The government recently announced a rise in National Insurance and dividend tax rates that’ll come into force from April 2022 onwards, with an aim of raising the much needed funds for the new Social Care and Health levy. So [...]
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 [...]
Are you entitled to childcare when contracting through your Limited Company?
One of the great positives from contracting and running your own Limited Company is the flexibility it provides. You get to choose when, where and for whom you work, and can chop and change whenever you like. So how [...]
Electric cars – how much tax can you expect to pay?
The recently announced tax band changes have meant that purchasing an electric car is a more realistic possibility than ever before. Along with the planned ban on petrol and diesel cars from 2030 onwards, you may be considering upgrading [...]
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 [...]
The Super-Deduction Tax Relief
As a Limited Company contractor you’ll no doubt have equipment to enable you to complete your work. HMRC allows you to offset part of the cost of purchasing said equipment against your company profits. Plus, as an extra bonus, [...]
A contractor’s guide to the announced dividend tax increase
Contractors have had a lot of change this year, so it’s safe to say that the unexpected increase to dividend tax rates was a bit of an unexpected (and unwanted) announcement. In this blog we explore what’s been announced, [...]
Taking money from your Limited Company and the associated tax implications
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 [...]
A contractor’s guide to bounce back loans, dividends and illegal dividends
New to contracting? We explain what dividends areIf you’ve been contracting for a while you may wish to skip this first section, but if you’re just starting your contracting career or are considering taking the leap, you may be wondering [...]
Seven top tips for Limited Company contractors to reduce your income tax bill in 2021
We’re now well into the new tax year, and whilst tax might be at the back of your mind, it’s still well worth understanding its importance and how making it work in your favour could save you money. In [...]
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 [...]
Should you opt-in or opt-out of The Agency Conduct Regulations?
The Conduct of Employment Agencies and Employment Business Regulations 2003 were created in 2004, with the aim to enforce a group of minimum standards which the UK’s private recruitment industry must adhere to. These standards are applicable to both [...]
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 [...]