Since the 2016 dividend tax hike, many limited company owners will be keen to minimise their exposure to punitive levels of taxation wherever possible. The timing of dividend declarations is an integral part of this strategy.
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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.
Latest Articles
Top 10 expert CV writing tips for contractors
The importance of a well-written CV cannot be understated. Given that the attention span of recruiters and clients is notoriously short, we asked an expert for 10 concise tips on how to craft the perfect contracting CV … [more]
Employment Allowance – a tax saving opportunity for eligible companies
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 benefit from this tax incentive? … [more]
Directors’ loans – how they work, and the tax implications
There may be a time when you need to borrow money from your own limited company - perhaps to finance a house deposit, or for a major purchase. Here we look at how directors' loans are treated, and how you could face a hefty tax bill if you don't plan … [more]
How to set your salary and dividend levels in 2018/19
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 in 2018/19, what dividends are, and how they are … [more]
Dividends – what are they, and how are they taxed?
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]
Tax rate and allowance changes from April 2018
It's that time of year again - the start of April brings with it changes to a number of tax rates and bands, as well as a cut in the dividend allowance. … [more]
Key things to look out for before signing a contract
Due to the emphasis often placed on IR35, contractors may enter into contractual agreements without fully understanding the practicality and implications of the other provisions contained within them. Here are some typical things to look out for … [more]
Taking on your first employee – ten basic steps
If you're thinking of expanding the contract work you undertake into a larger business, taking on your first employee is a big move. Becoming an employer for the first time will inevitably mean dealing with some red tape, but the process should be … [more]
IR35 private sector consultation expected “in the coming months”
Although the Chancellor didn't mention IR35 in his Spring Statement speech, the Government's written statement published shortly after suggests that an extension of the public sector off payroll rules to the private sector is still on the cards. … [more]
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