Demystifying Corporation Tax
As a contractor working through your own limited company, you are required to pay a range of taxes. This article is designed to help reduce the confusion that can surround Corporation Tax. We explain who has to pay it, how [...]
Contracting in Cybersecurity
ContractorUK lists cybersecurity contractors as one of the most sought-after IT specialists. This statement is backed-up by a report that was released in December 2017 by The Recruitment & Employment Confederation (REC). The report states that the demand for cybersecurity [...]
Use This Trick to Fund Your Staff Party This Year
As the nights grow cold and dark, thoughts naturally turn to celebrating the end of another year. With hard work (and a little luck), you will have plenty to be proud of and find your business in an even better [...]
The History of IR35
If you’re a contractor or thinking about becoming one you’ve more than likely come across the term IR35. This piece of legislation has evolved somewhat over the past decade and it is crucial to understand how it impacts or potentially [...]
4 Things Not to Say to Your Accountant
When hiring an accountant, there are standard questions to ask. How much are fees, can they manage your tax preparations and filings, is your data safe, and what is expected from you in return (i.e. do you need to fill [...]
New VAT Flat Rate Scheme
From 1 April 2017 many businesses who use the VAT flat rate scheme (FRS) are going to see an increase in the Flat Rate % they apply to calculate amounts due to HMRC.
Are you contracting in the public sector?
As you may have read in our Autumn Statement commentary, changes in April 2017 will mean that contractors working in the public sector will no longer have a say in their IR35 status. Instead the responsibility to determine IR35 status [...]
Christmas expenses guide
You can claim for an annual party (it doesn’t have to be a Christmas party but must be an annual event). The cost is limited to £150 (including VAT) per employee or director.
Dividend Waivers
The benefit of a ltd company is that the owners can decide how this split is made up and this split makes a big difference from a tax perspective. Salary is taxed at a higher rate than dividends and therefore most contractors will pay a low salary and higher amount of dividends […]
Maximising tax relief for two homes
The UK tax regime provides an important relief from the capital gains tax charge (CGT) on the gains made by owner-occupiers on the sale of their private homes. This is known as Principal Private Residence relief (PPR). The general principle [...]