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 to look after you and your company.
[more]
First Timer or Veteran IT Contractor?
Very few contractors 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.
Latest Articles
IR35 – are you in business on your own account?
To ensure that any contracts you undertake are not caught by IR35, you need to be able to demonstrate that you are not a disguised employee, but truly working in the manner of a small business owner. In other words, can you show that you are 'in … [more]
In what sense is your liability limited if you run a company?
One of the main attractions of working via your own company is that the liability of shareholders is limited. So, to what extent is the liability of company directors limited? … [more]
PSC contractors caught by Off-Payroll – how do payments work?
If you work on an 'inside IR35' contract post-April 2021, 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]
Off-payroll (IR35) – what is a Status Determination Statement (SDS)?
Under the off-payroll rules, from April 2021, private sector clients are responsible for determining a contractor's IR35 status. The decision must be contained within a Status Determination Statement (SDS), alongside the client's reasoning. … [more]
What are the typical duties of a limited company accountant?
If you choose to contract via your own limited company, you will need to hire an accountancy firm to look after your tax and accounting needs (unless you're confident of doing this on your own!) … [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]
The risks of contracting without a written contract in place
Not all contractors start work with a signed contract in place. Here we consider the risks this may involve, and why a contract doesn't necessarily have to be in writing for it to be legally binding. … [more]
Claiming training expenses via your limited company
Investing in improving your own skills or those of your employees can give you a crucial edge when it comes to pitching for new contracts. However, before funding training via your limited company, it’s important to know what you can - and cannot - … [more]
Company car vs. own vehicle – claiming tax relief
Many contractors travel by car on business - they may be visiting client sites, or attending conferences and training sessions. However, when it comes to claiming tax relief for the costs of these journeys, the rules can be confusing. … [more]
Follow Us!