IT Contractor Essentials
Very few contractors regret their decision to break with traditional employment and start out on their own. Our site provides all the information you'll need to operate a successful professional contracting business - whether you're thinking of taking the plunge, or if you're a seasoned pro.
Since 7th January 2013, rather than remaining a benefit paid to all regardless of wealth, families, where one parent earns £50,000 or more per year, are not entitled to receive the full level of child support. … [more]
How are subscriptions to professional and trade organisations treated for tax purposes, and what determines whether or not your membership of a particular organisation is tax-deductible? … [more]
Around 1,500 GlaxoSmithKline contractors have been sent identical letters from HMRC, accusing them of being 'disguised employees' - and therefore subject to the IR35 rules. … [more]
If your contract work is caught by IR35, your tax bill will rise considerably. Here, we use our IR35 calculator to work out the financial impact on contractors earning between £250 and £1000 per day. … [more]
As a limited company owner, you may incur a variety of business expenses whilst undertaking your contract duties. Here, we look at how expenses are 'allowable' for tax purposes, and some common errors to avoid. … [more]
There will be occasions when you may wish to provide small gifts to employees, throw a staff function or even treat yourself as the director. … [more]
However you decide to work as a contractor – via your own company, or an umbrella – or if you’re a self-employed freelancer, you must keep your financial records safe for a number of years. How long depends on the type of tax. … [more]
Poor cash flow management has always been the number one reason why businesses of all size fail. Like other business owners, contractors can also suffer significant financial difficulties if a client fails to pay on time. … [more]
The IR35 'off-payroll' rules will be extended to the private sector from April 2020 onwards, directly affecting a large number of contractors. What exactly does this mean, and what can contractors and clients do to prepare in advance? … [more]
When end-clients determine the IR35 status of contractors in the private sector from April 2020 onwards, they are tasked with taking 'reasonable care' when making employment status decisions. … [more]
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