Working out the most tax efficient way to draw down income from your company should be a priority for limited company owners. In this article, we explain how to establish your optimum salary level, what dividends are, and how they are taxed. … [more]
First Timer or Veteran Contractor?
Very few contractors regret their decision to break with traditional employment and start out on their own. Our site provides all the information you'll need to operate a successful professional contracting business - whether you're thinking of taking the plunge, or if you're a seasoned pro.
It is hard to forge a successful contractor career without having to negotiate some tricky situations along the way - both those involving recruiters and clients, and a multitude of potential 'administrative' problems which may arise. … [more]
The Employment Allowance reduces the amount of National Insurance employers have to pay by up to £3,000 per year. So, can your limited company take advantage of this tax incentive? … [more]
From April 2017, many small limited companies which have low annual costs will face a higher VAT liability if they use the Flat Rate scheme (FRS). Here, we look at how the changes are likely to affect contractors. … [more]
With everyone's attention firmly set on the April 2017 public sector IR35 rule changes, many within the industry have been asking whether this is merely a test run for a much bigger target - the private sector. … [more]
Here are some tips from the ITContracting team to help you create an online presence for your contracting business - and avoid the many potential pitfalls which await the unprepared! … [more]
With the tax differential between limited company owners and traditional workers substantially reduced due to successive dividend tax hikes, why don't policy makers take into account the extra costs contractors have to bear compared to employees? … [more]
One of the stand-out announcements from Spring Budget 2017 was a cut in the 'dividend allowance' from April 2018. What does this mean in practice, and how much will it cost you? … [more]
Here are the key points from the Spring 2017 Budget - including news that the dividend allowance will be reduced from April 2018. … [more]
The Intermediaries Legislation (aka IR35) was first mentioned in a 1999 Inland Revenue press release. The rules to counter alleged tax avoidance via the use of ‘personal service companies’ became law in 2000, and remain in place today. Here we look … [more]