The rules surrounding entertainment expenses are fairly complicated, so it’s important to be aware of the tax implications and reliefs available to your business before you pay for anything. This will ensure there are no nasty surprises at tax year end. Read more
From April 2020 onwards, new ‘off-payroll’ rules will be applied to private sector contractors. Here we explain what the new rules mean, and how you can prepare in advance of the implementation date. Read more
How does a PAYE umbrella company scheme work in practice? We look at the steps from signing up, to submitting your timesheets, getting paid, and how expenses are dealt with. Read more
When you set up in business as a limited company contractor, do you have to appoint an accountant? What are the benefits? Read more
When you buy certain things (assets) for your business, such as computer equipment, your company can claim ‘capital allowances’ on the value of these assets – and deduct the value from your profits before tax is calculated. Read more
Most accountants can set up a limited company on your behalf, either for free if you’re appointing them as your accountant, or for a fixed fee. Read more
Although the Intermediaries Legislation was created to target alleged disguised employment by limited company directors, how are sole traders affected by IR35? Read more
Changing your main residence for a new contract could mean it’s possible to claim a wide range of relocation expenses. These costs are exempt from tax and national insurance if they are considered ‘qualifying’ costs. 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
As a limited company contractor, you’re busy, so you need a system which can keep up with your accounting needs. But does this take on the form of a spreadsheet or online accountancy software? Read more