HMRC has issued a warning to umbrella employees and recruiters over the growing emergence of so-called “Bills of Exchange” schemes, which are being marketed as a way to avoid or settle tax liabilities.
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Read the 10-Step Guide →Running a limited company – what is a confirmation statement? [2026 guide]
Every UK limited company and LLP must send a confirmation statement to Companies House each year, confirming that the information held on the public register is still correct and up to date. … [more]
How to account for bad debts as a limited company
Bad debt relief allows a limited company to reduce its taxable profits where invoices are unlikely to be paid, helping contractors avoid paying Corporation Tax on income they may never actually receive. … [more]
MTD for ITSA: are limited company contractors affected?
HMRC's new MTD for ITSA regime is now live. If you operate through a limited company, the good news is that this almost certainly doesn't affect you - but almost isn't the same as definitely. … [more]
Can you amend your company accounts after you’ve submitted them?
It’s not unusual to spot a mistake after your company accounts have been filed. This could be anything from something minor to forgetting to include income or expenses before your accounts were prepared. … [more]
How to reduce your accountancy costs as a contractor
With costs rising across the board, it makes sense to review your business outlays. Accountancy fees are one of the regular costs that most limited company directors can’t avoid. … [more]
Charity and sponsorship expenses via your company
VA We all have causes close to our hearts, and if you are contracting through a limited company, you can factor in donations to charity as part of your overall tax planning strategy. … [more]
Guide to salary sacrifice for umbrella company contractors
Salary sacrifice is a popular option for contractors who want to reduce their taxable income while gaining access to non-cash benefits. It is mainly used to make tax-efficient pension contributions. … [more]
Close company reporting consultation: what it could mean for contractors
The government is consulting on new reporting requirements for close companies, focused on how small limited companies report payments, loans and other transfers of value involving their shareholders (‘participators’). … [more]
Can you pay dividends if your company has made a loss?
A company can still pay dividends even if it has made a loss in the current year, provided it has sufficient retained profits in its accounts. … [more]
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