Limited company directors – salary vs. dividends in 2020/21
As a limited company contractor, what is the most tax-efficient salary to pay yourself in the 2020/21 tax year, and any staff you employ? Read more
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Limited company tax basics for professional contractors
A concise guide to the taxes you will encounter as a limited company contractor – Corporation Tax, VAT, National Insurance, Income and Dividend Tax. Read more
What COVID-19 support is available for professional contractors?
Owner/employees of small limited companies will only be able to access minimal help from the Government’s COVID-19 support packages. Here we look at the key measures the Treasury has announced to shore up the nation’s finances. Read more
Key Information Documents – what contractors need to know
As the 2020/21 tax year approaches, a number of changes are being introduced by the government to help ensure there is more transparency between those seeking work and employment businesses or agencies. Read more
Off-Payroll (IR35) private sector reform postponed until April 2021
The controversial off-payroll (IR35) changes, which were due to go ahead on 6th April 2020 have been deferred until April 2021, due to the economic fallout caused by the COVID-19 emergency. Read more
Corporation tax – guide for limited company contractors
An overview of Corporation Tax, what the current CT rates are, and how it applies to limited company contractors. Read more
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. Read more
What is a director’s loan? – a guide for contractors
You might have heard your accountant mention a “director’s loan account” in your limited company. What do they mean, and is this something you need to be concerned about? Read more
What are limited company dividends and how are they taxed?
A guide to dividends for contractors. How much income you draw down as dividends, when to distribute them, and what paperwork you need to complete. Read more
Can your limited company claim the ‘Employment Allowance’?
If it is eligible, you company may be able to reclaim up to £4,000 of Employers’ National Insurance Contributions (NICs) from HMRC each year, thanks to the Employment Allowance. Read more