Payments on accounts are part of the self-assessment process and mean that you have to pay your next year’s income tax liabilities in advance, based on the amount you owed on your last tax return.
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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.
Latest Articles
Top 20 contract rate negotiation tips
If you're about to start a new contract, or if you’re coming up for renewal, these tips may come in handy to help you maximise your earning potential, whilst keeping on the right side of your agent and prospective client. … [more]
Can you borrow money from your own limited company?
There may be times where you need to borrow money from your own limited company, or you may have unintentionally done so whilst drawing down funds. What are the tax implications of doing so? … [more]
Common self-assessment tax return errors to avoid
If you're a limited company contractor, before 31st January next year you are likely to have to sit down and get to grips with your Self Assessment Tax Return (SATR). Unsurprisingly, this annual task is rarely a popular one, and errors are easy to … [more]
Is Chancellor planning a ‘secret tax grab’ on dividends this Autumn?
A leading small business organisation has raised concerns that the Chancellor may be considering yet another dividend tax hike in the coming months. … [more]
Why good negotiation skills are key to successful contracting
To gain the competitive edge over others when bidding for a new contract role, it is often your non-technical skills that will determine your success. Here, Simon Bichara explains why the art of negotiation is so important. … [more]
What is an Employer PAYE Reference Number (ERN)?
When you first register your company with HMRC as an employer, you’ll receive all sorts of information and reference numbers in your official welcome pack. One to look out for – and keep safe – is your Employer Reference Number (ERN). … [more]
IR35 private sector consultation ends – a resounding thumbs down from industry
The deadline for responding to HMRC's consultation document on extending the off-payroll rules to the private sector has expired. So, how did the contracting industry's biggest players respond? … [more]
Limited companies – what are SIC codes used for?
A Standard Industrial Classification (SIC) code is used to identify the business activity of your company, such as 'Information technology consultancy activities.' … [more]
The risks of contracting without a written contract in place
Not all contractors start work with a signed contract in place. Here we consider the risks this may involve, and why a contract doesn't necessarily have to be in writing for it to be legally binding. … [more]
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