The planned April 2022 National Insurance 1.25% hike will be painful for almost everyone in employment. But, not for the first time, umbrella company workers are in line for more pain than most.
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Latest Articles
April 2022 dividend tax rise – how much will it cost you?
The Government has announced significant tax rises to help fund a new 'Health and Social Care Levy'. Alongside a hike in Employers' and Employees' NICs, dividend tax will also rise - from April 2022 onwards. … [more]
Claiming back pre-trading expenses from your company
If you've spent personal funds setting up your contracting business, what scope is there to reclaim these costs from your limited company, once it has been incorporated? … [more]
Illegal dividends – how to avoid unlawful distributions
The main method company owners use to draw down business profits is by distributing dividends to the company's shareholders. In most cases, this is a simple process, but what happens if you mistakenly declare dividends which are greater than the … [more]
Why choosing the right contractor accountant is so important
There really is nothing worse than dealing with an accountant who is a poor communicator, has substandard accounting skills and/or is a late filer. For a stress-free life as a contractor, you should research the market for the best accountancy firm … [more]
Contractors could face significant penalties if they haven’t repaid deferred VAT
In line with a series of amends to VAT payments made by the government in response to the COVID-19 pandemic, the VAT deferral payment scheme was introduced to support businesses during the pandemic, helping them preserve cash during an undoubtedly … [more]
Company car vs. own vehicle – claiming tax relief
Many contractors travel by car on business - they may be visiting client sites, or attending conferences and training sessions. However, when it comes to claiming tax relief for the costs of these journeys, the rules can be confusing. … [more]
Umbrella company fees – the lowdown on costs
If you are considering joining an umbrella company, you need to be able to accurately compare the fees charged by different providers. … [more]
Forming a company – Articles and Memorandum of Association
If you want to form a new company, alongside the Companies House application itself (IN01), you must also file Articles and a Memorandum of Association. Here, we explain what these documents are, and how to submit them. … [more]
IR35 ‘blanket ban’ clients to lose out as demand for contractors increases
As the economy recovers and the demand for contractors continues to rise, a legal expert explains why businesses that are unable or unwilling to engage workers on an 'outside' IR35 basis will lose out. … [more]
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