IT Contractor Tax Limited Company Accounts Accounting

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.

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.

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.

Limited company shareholders - changes to ESC C16 rules from March 2012
HMRC has announced that changes are to be made to the tax treatment of shareholder distributions when a limited company is wound up.

How much should limited company contractors set aside for income tax?
If you are a limited company director, how much money should you put aside to settle your personal tax bill each year?

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.

Can you reclaim the cost of home broadband from your limited company?
In the latest of our series on limited company expenses, we look at tax treatment of broadband installed at home.

Christmas party expenses guidelines for contractors
Although most contractors work as one or two-man limited companies, with no other employees, you are allowed to claim back the costs of an annual party for your staff, as long as you follow the HMRC guidelines carefully.

Can I buy health insurance or gym membership via my limited company
What are the tax implications of paying for health insurance or gym membership via your limited company?

Key accounting dates for limited company contractors
Some of the key accounting dates for limited company contractors, including PAYE/NIC and self assessment deadlines.

Tax guide 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.

What is the Flat Rate VAT Scheme? An overview for IT contractors
An overview of the Flat Rate VAT Scheme, and how it could be advantageous for some limited company contractors.

New HMRC self assessment tax return penalties revealed
HMRC has introduced a new range of penalties for late tax return submissions and payments.

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?

BN66 - an overview of the offshore tax avoidance rules
In March 2008, the Chancellor announced a crackdown on the 'abuse' of loopholes in the double taxation treaties which exist between the UK and other countries. An overview of BN66 in light of the recent Huitson/Montpelier High Court case.