There may be a time when you want to take a break from contracting or other business activity, whilst keeping your limited company in an 'inactive' state.
HMRC allows several ways to claim for home office use, but the rules differ depending on how much you use your home for work and what expenses you incur.
A company may distribute any retained profit it has made to its shareholders. Board meeting minutes and dividend vouchers must be completed in all cases.
We look at the main positive and negative aspects of being an IT contractor, from the greater freedoms it brings, to the lack of security you might feel.