Our Blog
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, [...]
Should you be doing ATED returns as a property investor?
What is an ATED? An Annual Tax on Enveloped Dwellings (ATED) is an annual tax that’s payable by UK companies that own UK residential property with a value greater than £500,000. If your property satisfies one of the following [...]
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 [...]
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 [...]
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 [...]
Tax planning for 2021/22
For the 2021/2022 tax year, tax allowances and rate bands have, in the main, remained the same. In this article, we demonstrate what that means to contractors in real terms, and offer our advice for trading as tax-efficiently as [...]
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 [...]
Budget 2021 – what does it mean for contractors?
Although Rishi Sunak’s budget today didn’t repeal the off-payroll legislation change due in April as we might have hoped, it’s not all bad news for contractors.With the economy expected to recover to pre-Covid level by mid-2022, the Chancellor set out [...]
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