Companies House is raising its fees for the first time since 2016. The cost of forming a new company is set to increase from £12 to £50 on May 1st 2024.
Limited or Umbrella Company – which is best?
Limited or Umbrella Company? We look at the pros and cons of each type of business structure. Which is the best route for contractors?
How Corporation Tax applies to limited companies
If you set up as a limited company contractor, you will have to pay Corporation Tax on your company’s profits. Here, we explain how CT works, how to register, and when to pay your tax liabilities to HMRC.
The optimum salary for limited company directors in 2024/25
If you are a limited company director, what is the most tax-efficient salary to pay yourself in 2022/23? This depends on your eligibility to claim the Employment Allowance.
How do I switch from being a sole trader to a limited company?
Many freelancers become sole traders when starting out in business, seeing this as the right option for them at the time. What happens if you want to form a company in the future?
Your balance sheet and profit and loss account explained
You may have heard your accountant or bank manager talk about your “balance sheet” and “profit and loss account”. What do these terms mean in plain English?
National Insurance guide for contractors – updated for 2024/5
A guide to National Insurance for IT contractors. How NI works, and the prevailing rates and thresholds for employees’ and employers’ NICs.
Employment Allowance – is your limited company eligible?
Limited company owners can save hundreds in tax thanks to the Employment Allowance, which allows companies to reclaim up to £5,000 in Employers’ National Insurance Contributions.
2024/5 dividend tax guide for limited company directors
The profits generated by UK companies of all sizes can be distributed to shareholders in the form of dividends. Limited company professionals, such as contractors, typically draw down the bulk of their earning as dividends.
How much is the tax free dividend allowance in 2024/25?
The dividend allowance means the first £500 of dividends you receive are tax-free. But how does this allowance work in practice in the 2024/25 tax year?
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