As a contractor, you may need to travel as part of your contract duties – within the UK, or even overseas. Which travel expenses can you legitimately claim?
- 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.
What happens if you declare a dividend, but have insufficient profits in the company books to cover the declaration? Patrick Gribben explains how this can happen, and how to correct an error.
The ‘dividend allowance’ was put in place in April 2016 – it means that the first £2,000 of dividends you receive are tax-free. But how does this allowance work in practice for company owners?
Many people have outstanding student loans when they start contracting, but how you calculate and make repayments if you’re working for yourself, and not a ‘traditional’ employer?
If you need to buy a new PC or upgrade your software, how are these expenses treated for tax purposes? Here we explain how technology costs are accounted for, and look at the rules which govern the treatment of computer-related purchases.
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.
A guide to National Insurance for IT contractors. How NI works, and the prevailing rates and thresholds for employees’ and employers’ NICs.
If your company has sufficient profits, they may be distributed as dividends to shareholders. What paperwork must you complete, and how are dividends taxed?
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.
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).