An accountant to contractors shares possibly time-sensitive tips on the two top ways to close a solvent limited company.
Contractor 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 all of your company's accounting needs.
- If you're an umbrella contractor, then your tax and accounting needs are very simple, as you're taxed as a standard employee. Tax and NI deducted at source.
- How are dividends taxed?
- What is a director's loan?
- The most tax efficient salary for a director
- Limited company expenses your company can claim
- Taxes your limited company must pay
- What is the Employment Allowance?
Reeves’ vow to cap corporation tax at 25% gives rise to small profits rate fears
Talk from the new chancellor of a maximum rate for the duration of the parliament sounds anything but cheap.
Self assessment threshold changes for high earners paid via PAYE – 2023/4 and 2024/5
If your entire income is taxed under PAYE, you don’t have to complete a self-assessment form for the 2023/24 tax year if you earned less than £150,000. This filing threshold has been scrapped altogether from 2024/5 onwards.
How to calculate student loan repayments as a limited company director
Many people have outstanding student loans when they start contracting, but how you calculate and make repayments if you work for yourself, and not a ‘traditional’ employer?
Have you received a cryptoasset tax ‘nudge’ letter from HMRC?
If you’ve traded cryptoassets for a profit, you might assume that any gains you make are tax-free. However, this is not the case.
How Corporation Tax applies to limited companies
If you set up as a limited company contractor, you will have to pay Corporation Tax on your company’s profits. Here, we explain how CT works, how to register, and when to pay your tax liabilities to HMRC.
What taxes do IT contractors pay? Updated for 2025/26
A guide to the main taxes you will encounter as a limited or umbrella company contractor – including; Corporation Tax, VAT, National Insurance, Income Tax and Dividend Tax.
How dividend waivers work – guide for company directors
Here we look at what dividend waivers are, and why you should be aware of the tax implications should they be used improperly.
What happens if you overpay company dividends?
When paying dividends to shareholders, the first thing a company’s directors should do is to check how much profit is available to be distributed.
What is a director’s loan, and what potential problems should I be aware of?
The tax rules associated with borrowing money from your own limited company are fairly complicated. Therefore, it is important for company directors to understand the rules, guidelines, and tax implications associated with taking out a Director’s Loan.