After you make the move into the world of IT contracting, the first task you need to do is choose which type of business structure to work under – a limited or umbrella company.
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Our site provides all the information, tools and resources you'll need to operate a successful professional contracting business - whether you're thinking of taking the plunge, or even if you're a seasoned pro.
Latest Articles
Private sector IR35 / Off-Payroll reform – Essential FAQs
Recently introduced IR35 reform in the private sector presented a host of challenges to contractors, along with the businesses that place and engage them. Here we have included some of the most common FAQs we get asked about these changes, which were … [more]
10 things you should know before setting up a limited company
If you have decided to set up your own limited company in 2022, you have to submit an application to Companies House, the registrar of companies. Here, we've listed 10 bits of information you need to collect in advance to ensure your formation can be … [more]
IR35 – are you in business on your own account?
To ensure that any contracts you undertake are not deemed inside IR35, you need to be able to demonstrate that you are not a disguised employee, but truly working in the manner of a small business owner. In other words, can you show that you are ‘in … [more]
What happens if you’re selected for an IR35 enquiry?
There is a huge amount of information available about IR35 and how to protect yourself. But what happens if you are actually selected for an investigation in the post-IR35 reform world? How does an IR35 enquiry work now and what should you expect if … [more]
The optimum salary for limited company directors in 2022/23
Most limited company directors draw down funds as a mixture of salary and dividends - typically a tax-efficient salary, with any retained profits declared as dividends to shareholders. What is the optimum director's salary for 2022/23? … [more]
Dividends – what are they, and how much tax do you pay?
The profits generated by UK companies of all sizes can be distributed to shareholders as dividends. Limited company professionals, such as contractors and consultants, typically draw down the bulk of their earnings in the form of dividends. … [more]
Employment Allowance – is your limited company eligible?
The Employment Allowance reduces the amount of National Insurance employers have to pay by up to £5,000 per year from April 2022 onwards. So, can your limited company benefit from this incentive? … [more]
National Insurance for limited company contractors
In addition to your personal income tax liability, if your contracting salary is above the prevailing thresholds, both you and your company (limited or umbrella) will need to pay National Insurance Contributions to HMRC. … [more]
MSC legislation – HMRC launches new campaign against contractors
The Managed Service Company (MSC) legislation has made the headlines once again - in 2022 - as several contractor accountancy firms - and their clients - are being investigated by HMRC. … [more]
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