If your company has sufficient profits, they may be distributed as dividends to shareholders. What paperwork must you complete, and how are dividends taxed?
Tax Guides
- Limited company contractors have to account for company tax (Corporation Tax, VAT, Employers' NICs), and personal tax (Dividend Tax, Income Tax, Employees' NICs). In reality, a good accountant can take care of almost off of your administrative tasks.
- 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.
- Find out about the taxes you'll encounter as a contractor, and how to pay yourself as a contractor.
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?
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.
Follow Us!