The government has confirmed that small companies and micro-entities will have to file profit and loss accounts with Companies House from April 2028, bringing clarity to a reform that had appeared to be in doubt.
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Read the 10-Step Guide →PAYE – complete payroll guide for limited company contractors
The PAYE (Pay As You Earn) system is how HMRC collects Income Tax and National Insurance from employees' earnings. Here's how it works for contractors, and what's involved in setting up your company payroll. … [more]
Can your limited company reclaim VAT on pre-registration costs?
Many contractors buy equipment, software or services before registering their company for VAT. Provided certain conditions are met, the VAT can often be reclaimed once registration is complete. … [more]
HMRC’s umbrella crackdown means IT recruiters can no longer afford to hope for the best
For a long time, many recruitment agencies viewed umbrella compliance as something sitting slightly outside their immediate control. This was ultimately manageable through supplier agreements, annual reviews and a degree of trust in the providers … [more]
HMRC warns umbrella workers over ‘Bills of Exchange’ tax schemes
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. … [more]
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]
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