The ‘dividend allowance’ was put in place in April 2016 – it means that the first £2,000 of dividends you receive are tax-free. But how does this allowance work in practice for company owners?
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Latest Articles
Limited company registered address – what are my options?
When you apply to Companies House to form a company for the first time, you’ll have to provide a number of addresses, the most important one being your registered office address. … [more]
Umbrella company contractors – what is the Apprenticeship Levy?
If you're working through an umbrella company, you may have noticed deductions on your payslip for the Apprenticeship Levy. Here we explain what this charge is, and how it is calculated. … [more]
Limited company directors and working from home expenses
As a limited company owner, you may well carry out your trade from home - occasionally, or on a regular basis. Which (if any) household expenses can you legitimately claim against your company's tax bill? … [more]
National Insurance hike – double pain for umbrella company contractors
The planned April 2022 National Insurance 1.25% hike will be painful for almost everyone in employment. But, not for the first time, umbrella company workers are in line for more pain than most. … [more]
April 2022 dividend tax rise – how much will it cost you?
The Government has announced significant tax rises to help fund a new 'Health and Social Care Levy'. Alongside a hike in Employers' and Employees' NICs, dividend tax will also rise - from April 2022 onwards. … [more]
Claiming back pre-trading expenses from your company
If you've spent personal funds setting up your contracting business, what scope is there to reclaim these costs from your limited company, once it has been incorporated? … [more]
Illegal dividends – how to avoid unlawful distributions
The main method company owners use to draw down business profits is by distributing dividends to the company's shareholders. In most cases, this is a simple process, but what happens if you mistakenly declare dividends which are greater than the … [more]
Why choosing the right contractor accountant is so important
There really is nothing worse than dealing with an accountant who is a poor communicator, has substandard accounting skills and/or is a late filer. For a stress-free life as a contractor, you should research the market for the best accountancy firm … [more]
Contractors could face significant penalties if they haven’t repaid deferred VAT
In line with a series of amends to VAT payments made by the government in response to the COVID-19 pandemic, the VAT deferral payment scheme was introduced to support businesses during the pandemic, helping them preserve cash during an undoubtedly … [more]
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