Limited company contractors won’t benefit from the new COVID-19 self-employed support package, unveiled by the Chancellor this week.
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Are you a Professional Contractor or Freelancer?
Very few people 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
What is a director’s loan account? – a concise guide for contractors
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 director's loan accounts are treated, and how you could face a hefty tax bill if you … [more]
Off-Payroll (IR35) private sector rollout deferred until April 2021
The Off-Payroll private sector rollout has been deferred by a year, until April 2021. Steve Barclay MP made the announcement in the House of Commons tonight. … [more]
Calculate the tax cost of buying a car through your limited company
If you decide to buy a car via your own limited company, there are a number of significant tax considerations to take into account. Here we've created a no-nonsense guide to working out the real cost. … [more]
Budget 2020 – Off-payroll changes will go ahead on April 6th
Today's Budget confirmed that the April IR35 reforms will go ahead as planned. A series of smaller, positive announcements won't make up for the seismic off-payroll changes, which are causing chaos at a time of unprecedented uncertainty. … [more]
The taxing task of preparing for the off-payroll (IR35) changes
With changes to HMRC's off-payroll tax rules coming into force in less than a month, many businesses are still struggling to understand their exposure to the new legislation. … [more]
The optimum salary for limited company directors in 2020/21
Working out the most tax-efficient way to draw down income from your company should be a priority for limited company directors. In this article, we explain how to work out the optimum salary level for the 2020/21 tax year. … [more]
HMRC’s IR35 ‘review’ published – a sham, as expected
The Government has published the results of its post-election IR35 review. As expected, nothing of any substance has been announced, although HMRC has promised to take a 'soft' approach to compliance during the tax year following the April 2020 … [more]
PSC contractors caught by Off-Payroll – how do payments work?
If you work on an 'inside IR35' contract post-April 2020, then your fee-payer (agency or client) will be responsible for deducting taxes from your contract income, but exactly how is this income taxed before your limited company receives funds? … [more]
IR35 private sector changes – Essential FAQs
The April 2020 off-payroll changes to the private sector represent a massive challenge to the contracting industry. Here we have included some of the most common FAQs we've been asked about the IR35 reforms. … [more]
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