The main taxes IT Contractors should be aware of

IT contractor accountants - Directory

Directory of IT contractor accountants - links to some of the leading specialist accountant sites for IT contractors.

Tax basics for limited company contractors

When you start to contract via your own company, you will be liable for a number of business taxes, in addition to the individual taxes you will already be familiar with when you had a permanent job.

(Jun 13, 2013)

Limited company directors - salary vs. dividends

As a limited company director, what should you bear in mind when working out the most tax efficient split between the salary and dividend amounts you draw down?

(Apr 9, 2013)

How will the income tax threshold changes affect contractors?

The new personal tax year began on 6th April 2013, when a range of new tax rates and allowances took effect. Given the changes in income tax thresholds over the next two years, how will the typical contractor fare?

(Apr 8, 2013)

Value Added Tax - VAT guide for IT contractors

Value Added Tax guide for IT Contractors. When you should register for VAT, and how to deal with VAT administration.

(Apr 4, 2013)

Limited company dividends - how much tax to pay?

If you are a limited company shareholder, how do you calculate the personal tax payable on dividends you receive?

(Apr 2, 2013)

2013/14 Tax Rates - Guide for IT contractors

An overview of the key tax rates, bands and allowances for the 2013/14 tax year, including Corporation Tax, Income Tax, NICs, Dividend Tax and various tax-free allowances.

(Mar 26, 2013)

Corporation tax - guide for contractors

An overview of Corporation Tax and how it applies to limited company contractors.

(Mar 25, 2013)

Can limited company contractors benefit from the April 2014 Employers' NI cut?

From April 2014, all employers will be provided with a National Insurance tax cut. Will a typical limited company contractor benefit from this new allowance?

(Mar 22, 2013)

National Insurance (NIC) guide for IT contractors

National Insurance Contributions guide for contractors and freelancers, updated with 2013/14 rates.

(Jan 28, 2013)

Can I reclaim expenses from before I formed my limited company?

If you have recently set up a limited company, can you reclaim back any of your pre-formation costs?

(Jan 23, 2013)

Do all IT contractors need to register for self assessment?

If you are unsure whether or not you need to register for self-assessment, the answer is always 'yes' if you are a limited company contractor, and 'maybe' if you are an umbrella company employee.

(Jan 16, 2013)

How will the new Child Benefit eligibility rules affect IT contractors?

Many contractors will be affected by the new Child Benefit eligibility rules which come into force today. The new rules include a controversial anomaly that may come back and haunt the Coalition.

(Jan 7, 2013)

Common sense self assessment tips for contractors

Some useful personal tax return tips for contractors to ensure you complete your self assessment form accurately and on time.

(Dec 19, 2012)

Is a lack of understanding persecuting the innocent?

Lisa Keeble looks at how contractors have been wrongly caught up in the latest off-payroll tax debate - and how the distinction between tax avoidance and evasion has been blurred in they eyes of both the media and general public.

(Nov 15, 2012)

Can I pay my wife a salary from my limited company?

If you are contracting via a limited company, you may have considered paying your spouse a salary. An accounting expert tells us what the tax and payroll implications would be.

(Nov 5, 2012)

Tax codes - an overview for contractors

A tax code - typically several numbers and a letter - is used to work out how much income tax should be deducted from an employee's salary.

(Oct 26, 2012)

Contractor travel expenses - what is the 24 month rule?

An explanation of the 24 month rule with respect to contractor travel and subsistence expense claims.

(Oct 22, 2012)

Are IT contractors better off using the Flat Rate VAT scheme?

Are limited company contractors generally better off registering for the Flat Rate VAT scheme, or the standard VAT scheme?

(Jul 31, 2012)

VAT - what is the cash accounting scheme?

How the Cash Accounting Scheme for VAT can benefit your limited company cash flow, especially if you experience late payment problems.

(Jul 4, 2012)

How do you register your limited company for corporation tax?

If you have set up a limited company for your contracting business, how do you register to pay corporation tax?

(May 7, 2012)

Guide to limited company expenses

As a limited company contractor, your company can claim a wide range of expenses against profits - from director's salaries to the cost of IT training.

(Apr 15, 2012)

Tax rates and allowances for 2012/13

Here are the business and individual tax rates, bands and allowances for the 2012/13 tax year.

(Mar 22, 2012)

What contractors can expect from Budget 2012

What can contractors expect from Budget 2012? Will the 50p tax band stay or go? Will there be any IR35 announcements?

(Mar 19, 2012)

Budget 2012 - The problem with taxing the rich more

For centuries, successive UK Governments have grappled with the problems of raising more taxes from the better off in society. We look at George Osborne's options ahead of Budget 2012.

(Mar 14, 2012)

Contractor accountant gives his Budget 2012 predictions

Martin Hesketh, MD of Brookson, looks at some of the issues George Osborne will need to consider ahead of the Budget on 21st March.

(Mar 8, 2012)

HMRC extends tax exemption to smartphones

HMRC has deemed that smartphones can now have the same tax treatment as mobile phones, so benefit in kind charges will no longer apply.

(Feb 28, 2012)

Contractors set to pay more tax when dissolving a company, as ESC C16 changes are enacted

Changes to the ESC C16 rules have now been enacted by the Commons, meaning that contractors closing their limited companies will have to pay more tax when making a final distribution from 1st March 2012.

(Feb 3, 2012)

Dividends - how often should I take them, and when are they actually taxed?

We explore two of the questions most often asked by limited company contractors - involving the timing, and tax point of dividend declarations.

(Feb 2, 2012)

Can I gift a share in my company to my wife? Are there any tax consequences?

The issue of splitting limited company shares with a spouse or partner has been the subject of much confusion and debate over the past few years.

(Feb 1, 2012)

Self assessment on limited company dividend income

A contractor recently sent in an question asking whether or not his wife needs to register to fill in a tax return, even though no tax will be payable on her dividend income.

(Feb 1, 2012)