The Government has published guidance on ‘mini umbrella company fraud’ – the widespread practice of setting up multiple companies to employ temporary workers – with the sole aim of abusing the Flat Rate VAT and Employment Allowance schemes.
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Latest Articles
Forming a company – Articles and Memorandum of Association
If you want to form a new company, alongside the Companies House application itself (IN01), you must also file Articles and a Memorandum of Association. Here, we explain what these documents are, and how to submit them. … [more]
How much does it cost to set up a limited company?
There are several ways to set up your own limited company; via an accountant (a popular way), via a company formations agent, or direct with Companies House. Here we look at the typical costs associated with each option. … [more]
How to choose the best online accountancy software for your limited company
Doing your accounts will probably never become your favourite task. But accountancy software may make you less prone to wanting to pull your hair out. Even if you’re not a numbers whiz. … [more]
What is business asset disposal (entrepreneurs’) relief and how does it work?
Are you thinking of winding up your limited company - possibly as a result of retirement, or due to the Off-Payroll (IR35) rules? Perhaps you want to sell all or part of your business to someone else? … [more]
Members’ Voluntary Liquidation (MVL): a guide for contractors
If you've decided to close your limited company, a members' voluntary liquidation is the most tax-efficient way to do it. Here we explain what an MVL is, and how the process works. … [more]
Dividends – what are they, and how much tax do you pay?
The profits generated by UK companies of all sizes can be distributed to shareholders as dividends. Limited company professionals, such as contractors and consultants, typically draw down the bulk of their earnings in the form of dividends. … [more]
Employment Allowance – is your limited company eligible to claim?
The Employment Allowance reduces the amount of National Insurance employers have to pay by up to £4,000 per year. So, can your limited company benefit from this incentive? … [more]
The optimum salary for limited company directors in 2021/22
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 2021/22 tax year. … [more]
National Insurance for limited company contractors
In addition to your personal income tax liability, if your contracting salary is above the prevailing thresholds, both you and your company (limited or umbrella) will need to pay National Insurance Contributions to HMRC. … [more]
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