Varying incomes and a lack of financial security can put a strain on the cash flow of some contractors. Things may be even worse if you are stuck with a client who delays payment or even refuses to pay at all.
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How to value your skills and negotiate the best contract rates
The ability to successfully negotiate your contract rate with clients and agents will serve you well in your career as a contractor. Here are some things to bear in mind when working out how much to charge for your skills. Read more
Limited company dividend tax – before 6th April 2016
If you are a limited company shareholder, how do you calculate the personal tax payable on dividends you receive? Read more
If I close down my company, can I extract the remaining profits tax efficiently?
If you are considering closing down the company you have used for contracting, we look at how any remaining profits can be extracted in a tax efficient way. Read more
Guide to invoicing agencies + invoice template
A contractor’s guide to preparing an invoice for your agency / client. What to include on the invoice, sample invoice templates, and links to online invoicing software. Read more
Your company annual accounts – the basics, and filing deadlines
If you have set up a new limited company for your contracting business, when do you have to submit your company accounts to Companies House and HMRC? Read more
Closing down a limited company – your options
There are a number of reasons why you may wish to shut down your limited company, such as retirement, or returning to a permanent role. Here, Donald McNaught from Johnston Carmichael examines the options you face when closing down your company and the tax efficiency of each route.
HMRC’s Contract Review Service – a no-win situation?
New HMRC IR35 guidance contains a section dedicated to the IR35 ‘Contract Review Service’. Here an expert considers whether using the service still carries significant risk. Read more
IT contractors and Capital Gains Tax (CGT)
If you make money from the disposal of assets, you may be liable to pay Capital Gains Tax on the proceeds. How to calculate your CGT liability at the end of the tax year. Read more
Contractor travel expenses – what is the 24 month rule?
An explanation of the 24 month rule with respect to contractor travel and subsistence expense claims. Read more