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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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.
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]
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]
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]
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]
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]
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]
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]
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]
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]