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
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
An overview of Corporation Tax, what the current CT rates are, and how it applies to limited company contractors. Read more
Value Added Tax guide for IT Contractors. When you should register for VAT, and how to deal with VAT administration. Read more
Many contractors consider price to be a key factor when choosing an umbrella company. We look at typical umbrella company fees charged by providers, and why you should look at additional factors before signing up. Read more
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
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
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
What happens if your company declares a dividend only to discover that there were insufficient profits at the time to justify such a payment to its shareholders? Read more
Both your company, and its employees are liable to pay National Insurance Contributions on all salaries paid to staff. Here we look at how the rates are calculated. Read more