There are many retail loyalty schemes available to consumers – covering anything from groceries to cosmetics. Wouldn’t it be good if you could personally benefit from extra points generated by business as well as personal purchases?
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.
Guide to marketing and advertising expenses for contractors
If you are a professional contractor, at some stage you may need to invest in some kind of marketing for your business – but can these costs be offset against your company’s tax bill?
Can a contractor claim relocation expenses?
At some stage, whilst working via your limited company, you may face a situation where you need to relocate to take up a new contracting role. You may be able to offset your moving costs against your company’s tax bill.
Tax deadlines limited company owners should be aware of
If you are a limited company owner, you have a number of monthly, quarterly and yearly tax and accounting deadlines to keep on top of. Read this guide to make sure you don’t end up on the wrong side of HMRC.
Making Tax Digital for VAT – is your company prepared?
The first major step towards the Government’s aim of transforming the way tax data is stored and communicated comes in April 2019 when most limited companies will be required to submit all VAT returns electronically.
Is your company’s Christmas party tax deductible?
If you’re thinking of holding a small Christmas do for your limited company, you’ll be pleased to hear that your can legitimately claim back costs of up to £150 per head without any tax implications, as long as you meet certain conditions.
Self-Assessment for contractors – completing your tax return
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.
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, and what information can these documents provide you about your company?
How Capital Gains Tax (CGT) works
Capital Gains Tax is charged to you when you sell or dispose of an asset and it has grown in value, or you have gained a profit out of the sale. Here we look at how the CGT rules work in practice.
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.
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