Payments on accounts are part of the self-assessment process and mean that you have to pay your next year’s income tax liabilities in advance, based on the amount you owed on your last tax return.

There may be times where you need to borrow money from your own limited company, or you may have unintentionally done so whilst drawing down funds. What are the tax implications of doing so?

If you’re a limited company contractor, before 31st January next year you are likely to have to sit down and get to grips with your Self Assessment Tax Return (SATR).

When you first register your company with HMRC as an employer, you’ll receive all sorts of information and reference numbers in your official welcome pack. One to look out for – and keep safe – is your Employer Reference Number (ERN).

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.

Capital allowances allow you to claim tax relief on assets you buy for your business. The value of these items can be offset against your company’s profits over time. So how do capital allowances work in practice?

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 strip away all the marketing and price differences between competing firms, there are a number of core tasks all specialist contractor accountants undertake for their clients.

If you decide to buy a car via your own limited company, there are a number of significant tax considerations to take into account. Here we’ve created a no-nonsense guide to working out the real cost.