As owner and director of your own small business or personal service company, no doubt one of the key reasons you decided to incorporate was to limit your liability.
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First Timer or Veteran IT Contractor?
All the information, tools and resources you need to operate a successful professional contracting business.
🏢 Setup
Limited or Umbrella?
Become a Contractor Set Up a Company Compare Umbrella Firms Limited vs. Umbrella
📊 Accounting
Contractor Accountants
List of Accountants Switch Providers Do You Need One? Are They Qualified?✅ Start Contracting Today
Read our step-by-step setup guide, with everything from navigating IR35 to submitting your first invoice.
Read the 10-Step Guide →Your balance sheet and profit and loss account explained
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]
How much does it cost to set up a limited company in the UK?
Setting up a limited company in the UK is still remarkably inexpensive, even given the 2024 fee rises. There are several ways to set up your own limited company. Go direct via Companies House, hire an accountant, or use a company formation agent. … [more]
7 red flags you’ve outgrown your accountant – and what to do about it
From my experience running contractor sites for over 20 years, two complaints come up more than any other when people talk about their accountants: missed deadlines and poor communication. … [more]
Government to regulate umbrella companies from 2027
The government has confirmed that the umbrella company industry will finally be regulated, with new legislation due to come into effect in 2027. … [more]
Digital and remote working expenses – what can your company claim?
With remote and hybrid working now firmly entrenched in the contracting world, many small company owners now use digital tools to collaborate, communicate, and fulfil their work duties. … [more]
Umbrella company reform 2026: what ‘joint and several liability’ means
From April 2026, HMRC is expected to bring in a new joint and several liability (JSL) rule for supply chains that use umbrella companies. If the umbrella company doesn’t pay the correct PAYE tax or National Insurance, HMRC will be able to recover the … [more]
Depreciation in small company accounts – and why it matters
If you buy equipment through your limited company, such as a laptop, office chair or mobile phone, you usually can’t claim the full cost as a day-to-day expense. Instead, it’s recorded as a fixed asset and written down in value over time using … [more]
Companies House P&L filing for all companies – still going ahead?
From company tax years beginning in April 2026, all limited companies – including one-person consultancies and PSCs – will be required to file a full profit and loss (P&L) account with Companies House. … [more]
The best online accounting software for a limited company
Doing your accounts will probably never become your favourite task. But accounting software may make you less prone to wanting to pull your hair out. Even if you’re not a numbers whiz. … [more]
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