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.
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?
A guide to National Insurance for IT contractors. How NI works, and the prevailing rates and thresholds for employees’ and employers’ NICs.
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’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.
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.
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.
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.
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.