When transitioning from PAYE employment to a self-employed role, one of the main changes you must become accustomed to is that tax will no longer be deducted at source. Therefore, you’ll need to set aside money to pay this in your tax return, which is where ‘payments on account’ come into play. James Foster, Senior … Read more
We look at the advantages and disadvantages of contracting via a limited company – a tax efficient option for many, however directors do carry a number of statutory and financial obligations. Read more
You may have heard of the controversial tax rule which reduces the amount of child benefit you are entitled to keep if you (or your partner) earns above £50,000 each year. Read more
One of the first things umbrella contractors ask is – what can they claim for on expenses? The truth and ‘mistruths’ about reclaiming contractor expenses. Read more
When you’re working as a contractor you’ll more than likely need to use your own vehicle for work travel at some point. Here we look at how you can claim fixed HMRC mileage costs – and which costs you cannot claim back. Read more
Given that all qualified accountants should be able to keep the books of your average limited company contractor, why do most contractors hire specialist accountancy firms? Read more
When you join a new contractor accountant, with incomplete accounting records in tow, should the new provider charge you to bring them up-to-date? Read more
A list of some of the leading specialist accountancy firms for contractors. Read more
The UK has one of the most unrestricted company formation regimes in the world, however not everyone is allowed to become a company director. Read more
The professional person you are most likely to seek advice from is your accountant. We look at the five things you want to avoid when choosing a contractor accountancy firm. Read more