Business Bank Account FAQs
What’s the difference between my personal bank account and a business bank account? When you set up a business it’s a great idea to get a separate business bank account set up. Your business and personal affairs, including finances, are [...]
Reducing your Corporation Tax by making charitable donations through your Limited Company
Donating to charity is a great way to support causes that matter to you. But did you know that by donating through a Limited Company, it can claim tax benefits on the donation? In this blog, we outline how donating [...]
How much tax can you expect to pay on electric cars?
Electric cars were once a thing of the future, and it was rare to see one out and about on our roads. But now, more and more people are purchasing them, with charging points being the norm in supermarket and [...]
The Spring Budget 2023
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion [...]
2023-24-tax-changes-rates
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 National Insurance [...]
The Autumn Statement 2022 Full Report – what it means for Limited Company contractors
Since the reversal of Liz Truss’s tax policy changes last month, new PM Rishi Sunak and Chancellor Jeremy Hunt have promised a new statement, concluding that now is the right time to proceed with a package of tax cuts. In [...]
Business expenses through a Limited Company
Running a business comes with its costs and sometimes it isn’t always clear which of these costs are tax deductible. To help, we have created a short and informative guide about commonly claimed expenses. Understanding how reclaiming expenses works [...]
BREAKING NEWS – Repeal of IR35 reforms and back track on Corporation Tax
Jeremy Hunt, The Chancellor of the Exchequer, has today scrapped the plans to repeal the Off-payroll IR35 Reforms, which had been announced by Kwasi Kwarteng on 22 September 2022. As part of his ‘Growth Plan’, Kwarteng had set out a [...]
MINI BUDGET SEPTEMBER 2022
The mini budget - what it means for contractors Well that was a big U-TURN affecting the contracting industry! The (not so) mini-budget delivered by new Chancellor, Kwasi Kwarteng last Friday, had a lot more in it than anyone expected. Repeal [...]
The April 2023 Corporation Tax Rate increases – explained
One of the major announcements from the 2021 March Budget was that Corporation Tax would be increasing from 19% to 25% in April 2023. So what does this mean for Limited Companies? In this blog we take a look at [...]
Summer entertaining – the rules behind having a good time
Summer is finally here, hooray! Grab the sun cream, fire up the BBQ and pour yourself something cold, it’s time to enjoy the weather and some much needed socialising. But before you make any plans, what are the rules when [...]
Borrowing money from your Limited Company
There may be times when you’ll need to borrow money from your Limited Company, but how do you go about doing so and what are the associated tax risks from doing so? Plus, is there anything you need to be [...]
Top tips on how to reduce your energy consumption when working from home
It’s an expensive time to work and live in the UK, even more so if you contract from your home. With bills already increasing to an alarming rate and even more rises set to be announced in the autumn, now [...]
Aardvark Accounting’s top 7 tips to reduce your income tax bill in 2022 as a Limited Company contractor
We’re fast approaching the middle of 2022 and the tax year is now in full swing, so now is the best time to take stock of your allowances, and how making them work for you could mean more money in [...]
5 top ways in which you can manage multiple clients as a contractor
As a Limited Company contractor having lots of clients is a nice position to be in, as it gives you plenty of variety in your working day, it spreads risk, increases your exposure as a contractor and ultimately means more [...]
The Spring Statement 2022 – how have Limited Company contractors been affected?
In this blog our MD, Daniel Mepham, shares his thoughts from the March 2022 Spring Statement. A much anticipated Spring Statement was delivered on March 23rd by Chancellor, Rishi Sunak against a backdrop of war in Ukraine, post pandemic super [...]
Limited Company contracting with children – are you entitled to childcare?
There are so many great positives to choosing a career in contracting, one of which is the flexibility it can provide if you have a family. You choose when, where and how you work, and can adapt it to fit [...]
Electric cars – how much tax can you expect to pay?
The ban on petrol and diesel cars will come into force in 2030, and with more and more electric cars on the roads, they’re becoming an ever increasingly popular mode of transportation. So if you’re looking to purchase a car [...]
Can you claim your festive party expenses?
Who doesn’t enjoy a festive party, and following on from this past year we’ve all had, the team here at Aardvark believe that everyone deserves to let their hair down and have a good time. So are you able to [...]
The top 4 tax benefits from adopting a green approach to running your company
With the recent Cop26 climate summit, the environment is currently a hot topic, and sadly not for all the right reasons…So what can you be doing to grow your business but in an environmentally friendly way? Our blog takes a [...]