Limited company ownwea can save hundreds in tax thanks to the new Employment Allowance, which allows companies to reclaim up to £3,000 in Employers’ National Insurance Contributions.
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.
National Insurance for limited company contractors
A guide to National Insurance for IT contractors. How NI works, and the prevailing rates and thresholds for employees’ and employers’ NICs.
Dividend tax – limited company guide and examples
If your company has sufficient profits, they may be distributed as dividends to shareholders. What paperwork must you complete, and how are dividends taxed?
The optimum salary and dividend levels for 2019/20
If you are a limited company director, what is the most tax efficient salary to pay yourself in 2019/20? This depends on your eligibility to claim the Employment Allowance.
What is an Employer PAYE Reference Number (ERN)?
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).
What expenses can you claim when contracting abroad?
If you’re thinking of taking up a job offer overseas, or you’re already contracting abroad, one potentially confusing aspect of record-keeping relates to expenses claims.
Shutting down your company – cessation accounts
There may come a time when you decide that you no longer need your limited company. Here, a leading accountant explains the procedures you must follow when shutting down your business.
Limited company directors and working from home expenses
As a limited company owner, you may well carry out your trade from home – occasionally, or on a regular basis. Which (if any) household expenses can you legitimately claim against your company’s tax bill?
Tax treatment of loyalty scheme benefits generated by company spending
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?
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?
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