The retained profits generated by UK companies of all sizes can be distributed to shareholders. For professional workers (such as contractors, consultants, and freelancers), dividends make up the bulk of income drawn down from small limited … [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.
We all have causes that are close to our hearts and if you are contracting through a limited company, you can factor in donations to charity as part of your overall tax planning strategy. … [more]
As the number of tax planning opportunities available to contractors continues to dwindle, we look at the pros and cons of running buy-to-let investments via a corporate structure. … [more]
What should contractors do to appear more business-like? It is surprisingly easy to create a professional business identity these days - thanks, in no small part, to web technology. … [more]
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]
If you need to buy a new PC, or upgrade your software, how are these expenses treated for tax purposes? Here we explain how technology costs are accounted for, and look at the rules which govern the treatment of computer-related purchases. … [more]
If you incur travel expenses between your home and a temporary client site, you should be aware of the 24 month rule which determines whether or not you can legitimately claim for such costs. Here, we ask an expert to explain how the rule operates in … [more]
In any form of business we all rely on technology to get the job done. If your daily contracting work routine revolves around “office, car, meeting, car, office”, your choice of gadgets can mean the difference between just succeeding and excelling. … [more]
You may have heard your accountant or bank manager talk about your “balance sheet” and “profit and loss account”. What do these terms mean, and what information can these documents provide you about your company? … [more]
If you submit your self assessment tax return late, fail to pay any tax you owe on time, or make errors in your submission, you could find yourself liable to a wide range of HMRC penalties. … [more]