Ongoing training is key to enhancing your existing skills, and sourcing new contract work, but which training costs can you claim via your limited company’s tax bill? Thanks to contractor accountants, Taxevo for answering our questions: What type of training qualifies as a genuine company expense? The cost of training can be claimed as a … Read more
As contractors do not receive the insurance benefits often provded to permanent employees, taking out a relevant life insurance policy is a tax efficient way to protect your loved ones. Read more
The stand-out announcement from the October 2018 Budget was the extension of ‘off payroll’ rules to most private sector businesses from April 2020 onwards. So, what does this mean for contractors? Read more
What qualifies as a ‘trivial benefit’ according to HMRC and how you can reward your staff and company directors with a simple gift or benefit without them being taxed? Read more
The 2019 loan charge is a retrospective tax law which seeks to collect taxes from anyone who worked via a contractor loan scheme in the past. Read more
Critical illness insurance is a type of policy designed to cover you if you happen to be diagnosed with a serious medical condition. It’s a policy aimed specifically at contractors and other limited company directors. Read more
There may be a time when you want to take a break from contracting or other business activity, whilst keeping your limited company in an ‘inactive’ state. How to make your company dormant. Read more
With so many different products available, how do you know which bookkeeping software is best for your contracting business? Our quick guide provides a few key pointers that should make it easier to decide. Read more
Form P11D details the cash equivalent of benefits and expenses UK-based employers have provided to company directors and employees in a given tax year. It’s a statutory form required by HMRC and has to be submitted annually. Read more
If you want to take out a life insurance policy to protect your dependants should you die, you could benefit from a ‘relevant life’ policy, which is paid for by your limited company, resulting in a significant tax saving. Read more