If you’re a limited company director, or receive additional income upon which tax is due, you’ll need to complete a tax return each year. How to register for self-assessment, pay your tax liabilities, and avoid penalties.
Tax / Accounts
- If you're an umbrella contractor, then your tax and accounting needs are very simple, as you're taxed as a standard employee - with tax and NI deducted at source.
- Limited company contractors have to account for a) company tax, and b) personal tax, but a good contractor accountant can do this on your behalf.
- Find out about the taxes you'll encounter as a contractor, and how to pay yourself as a contractor.
- Find out how much contractor accountants charge in our contractor accountants comparison table.
The ‘dividend allowance’ is due to be cut from £5,000 to £2,000 from April 2018. What does this mean in practice, and how much will it cost you?
Until fairly recently, accountancy software came in a box and was something you had to install on your computer yourself to get started. Today, thanks to cloud computing, you have a host of web-based accounting solutions to choose from that are easier to use and have a wide range of features to help with all […]
The majority of IT contractors are VAT-registered. In this guide, we look at what Value Added Tax is, how and when you must register, and how to account for VAT and pay your liabilities on-time.
If you’re thinking about starting up, or have been working via your own limited company for some time, there are a number of potential tax traps lying in wait for unsuspecting directors!
How to claim back the costs of pre-trading expenses you have paid for personally, on behalf of your limited company, including how VAT can be reclaimed, subject to specific time limits.
Are you one of the millions of people who are eligible to claim the Marriage Allowance, but haven’t done so yet? Here we explain how this allowance – worth £230 per year – works, and how to claim it.
A guide to the main taxes you will encounter as a limited or umbrella company contractor – including; Corporation Tax, VAT, National Insurance, Income Tax and Dividend Tax.
If you have children, and you or your partner earn £50,000 or more, your Child Benefit entitlement will be reduced, or removed. So, how are contractors affected by the new rules, and why are they so controversial?
HMRC will assign you a tax code to inform your employer (often your own company) to help them calculate how much tax should be deducted from your salary. Here we look at what the series of numbers and letters signify, and how they affect your income.