The super-deduction tax relief, explained
As a Limited Company contractor you’ll no doubt find yourself at some point purchasing equipment that’ll enable you to complete your work, and HMRC kindly allow you to offset part of the expenditure against your company profits. As an added [...]
A Limited Company contractor’s guide to the announced dividend tax increase
As a Limited Company contractor you’ll be aware of the recent (and unexpected) increase in dividend tax rates, but how will this affect you? In this blog we explore what has been announced, when it’ll come into force, and how [...]
A reminder about the Self-Employment Income Support Scheme (SEISS)
What is SEISS? The Self-Employment Income Support Scheme (SEISS) was created for the self-employed or a member of a partnership, who were affected by coronavirus. If you lost out on income or had to stop working in order to look [...]
A Limited Company contractor’s guide to bounce back loans, dividends, and illegal dividends
An introduction to dividends – new to contracting If you’ve been contracting for a while we’d suggest skipping this first section, but if you’re just starting out in your contracting career or thinking about it, you may be needing some [...]
Summer socials and entertaining staff – what you can claim as a business expense
Whilst the UK’s Covid freedom day has been delayed until July 19th, there’s nothing stopping you from planning a summer social for yourself or those who you work closely with. So what can you claim as a business expense? In [...]
PAYE due on July 22nd 2021
It’s that time of the year again when you must pay your PAYE bill to HMRC. If you pay monthly be sure to pay your bill by the 22nd of the next tax month, and if you pay quarterly to [...]
Planning on giving freelancing or contracting a go? We reveal how much tax you’ll pay
Has lockdown got you considering your working options and whether a career in freelancing or contracting might be your next great move? If it’s something you’re considering, but you’ve still got a foot in permanent employment, then you’ll need to [...]
A Limited Company contractors guide to insurance
Whilst you’re busy contracting, the last thing you’ll want to worry about is your insurance and what could happen if anything didn’t go to plan. With many clients they’ll also legally require you to have the correct insurance in place [...]
What Limited Company contractors need to know about the Status Determination Statement (SDS)
As a Limited Company contractor you’ve probably been ensuring that you’ve done everything you can to understand the changes to the IR35 reform, and what you needed to be doing. But can the same be said for your end hirer [...]
Thinking of switching from Limited to Umbrella? Here’s everything you need to know
So the IR35 legislation change has finally happened, and you may now find yourself contracting inside IR35. You’ve decided to use an Umbrella company for your next contract, but what’s the process of switching over and what do you need [...]
Tax planning for 2021/22
For the 2021/2022 tax year, tax allowances and rate bands have, in the main, remained the same. In this article, we demonstrate what that means to contractors in real terms, and offer our advice for trading as tax-efficiently as possible. [...]
Your tax year-end checklist
Ensure you make the most of your tax-saving opportunities before April 6th. The end of this tax year is almost upon us, so now is the time to act and ensure you’ve done everything you can to reduce your tax [...]