Self-Assessment – how do payments on account work for contractors?
As a limited company contractor, you need to set funds aside for your annual tax return liability, which is where ‘payments on account’ come into play.
Will your new accountant charge to form a limited company?
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.
Net take-home pay calculation tricks used by some umbrella companies
When you request a net take-home pay calculation from prospective umbrella providers, the numbers should all match. But, often, they don't.
What should I do if I want to change my accountant?
If you need to change accountancy providers for whatever reasons, we look at the steps you should take to ensure the handover goes smoothly.
What salary should I pay myself as a limited company contractor?
One of the most common questions asked by limited company contractors is what level of salary they should pay themselves.
Are contractors better off using the Flat Rate VAT scheme?
Are limited company contractors generally better off registering for the Flat Rate VAT scheme, or the standard VAT scheme? Includes details of the Limited Cost Trader exclusion.
A contractor’s guide to SIPPs – take control of your retirement
SIPPs offer flexibility, tax efficiency, and a wide range of investment choices, making it attractive for those who want to manage their own retirement pot.
Umbrella companies and agency PSLs – how do they work?
If you've found a contract through a recruitment agency, you'll often be encouraged to use an umbrella on the agency's preferred supplier list (PSL).
Can I reclaim expenses from before I formed my limited company?
You may well have incurred various expenses starting out in the contracting world, before you formed a company. Can you reclaim these costs?
IT contractor expenses – what can you claim for?
If you are a contractor, you can offset a range of business expenses against your company's tax bill. Here we look at some typical contractor expenses.