IT Contractor Essentials
Read our step-by-step setup guide, with everything from navigating IR35 to submitting your first invoice.
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HMRC has issued a warning to umbrella employees and recruiters over the growing emergence of so-called “Bills of Exchange” schemes, which are being marketed as a way to avoid or settle tax liabilities. … [more]
Every UK limited company and LLP must send a confirmation statement to Companies House each year, confirming that the information held on the public register is still correct and up to date. … [more]
Bad debt relief allows a limited company to reduce its taxable profits where invoices are unlikely to be paid, helping contractors avoid paying Corporation Tax on income they may never actually receive. … [more]
HMRC's new MTD for ITSA regime is now live. If you operate through a limited company, the good news is that this almost certainly doesn't affect you - but almost isn't the same as definitely. … [more]
It’s not unusual to spot a mistake after your company accounts have been filed. This could be anything from something minor to forgetting to include income or expenses before your accounts were prepared. … [more]
With costs rising across the board, it makes sense to review your business outlays. Accountancy fees are one of the regular costs that most limited company directors can’t avoid. … [more]
If you work through an umbrella company, you can benefit from 'continuity of employment' - whereby you continue to be employed by the umbrella even when a particular contract ends. … [more]
We all have causes close to our hearts, and if you are contracting through a limited company, you can factor in donations to charity as part of your overall tax planning strategy. … [more]
Salary sacrifice is a popular option for contractors who want to reduce their taxable income while gaining access to non-cash benefits. It is mainly used to make tax-efficient pension contributions. … [more]
The government is consulting on new reporting requirements for close companies, focused on how small limited companies report payments, loans and other transfers of value involving their shareholders (‘participators’). … [more]
