Making Tax Digital (MTD) is set to bring about the biggest change to the UK’s tax system for a generation – so how will it impact the contracting world?
Tax / Accounts
- If you're an umbrella contractor, then your tax and accounting needs are very simple, as you're taxed as a standard employee - with tax and NI deducted at source.
- Limited company contractors have to account for a) company tax, and b) personal tax, but a good contractor accountant can do this on your behalf.
- Find out about the taxes you'll encounter as a contractor, and how to pay yourself as a contractor.
- Find out how much contractor accountants charge in our contractor accountants comparison table.
One of our readers has recently been offered a contract role 200 miles away from home. Can he claim the cost of renting accomodation against his limited company’s tax bill?
When it comes to paying dividends to shareholders, the first thing a company’s directors should do is to check how much profit is available to be distributed. But what happens if you have overpaid dividends?
A concise guide to the main tax rates, bands and allowances you will encounter as a contractor during the 2017/18 tax year.
There will be occasions when you may wish to provide small gifts to employees, throw a staff function or even treat yourself as the director.
With more accountants than ever offering either bespoke or third party software for their clients to use, we look at the significant benefits online accountancy systems can provide for contractors.
We look at how much the leading contractor accountancy firms charge for their services, and how the cost of ‘additional’ services, such as company formation, personal tax returns and IR35 reviews can add to your annual accounting bill.
If you set up as a limited company contractor, you will have to pay Corporation Tax on your company’s profits. Here, we explain how CT works, how to register, and when to pay your tax liabilities to HMRC.
How to work out the best way to remunerate yourself as an IT contractor. What is the most tax efficient salary to pay yourself in 2015/16?
Limited company contractors can save hundreds in tax thanks to the new Employment Allowance, which allows companies to reclaim up to £2,000 in Employers’ National Insurance Contributions. You can save £226 on a salary of £10,000 this tax year.