IT Contractor Essentials
Our site provides all the information, tools and resources you'll need to operate a successful professional contracting business - whether you're thinking of taking the plunge, or even if you're a seasoned pro.
The planned April 2022 National Insurance 1.25% hike will be painful for almost everyone in employment. But, not for the first time, umbrella company workers are in line for more pain than most. … [more]
The Government has announced significant tax rises to help fund a new 'Health and Social Care Levy'. Alongside a hike in Employers' and Employees' NICs, dividend tax will also rise - from April 2022 onwards. … [more]
If you've spent personal funds setting up your contracting business, what scope is there to reclaim these costs from your limited company, once it has been incorporated? … [more]
The main method company owners use to draw down business profits is by distributing dividends to the company's shareholders. In most cases, this is a simple process, but what happens if you mistakenly declare dividends which are greater than the … [more]
There really is nothing worse than dealing with an accountant who is a poor communicator, has substandard accounting skills and/or is a late filer. For a stress-free life as a contractor, you should research the market for the best accountancy firm … [more]
In line with a series of amends to VAT payments made by the government in response to the COVID-19 pandemic, the VAT deferral payment scheme was introduced to support businesses during the pandemic, helping them preserve cash during an undoubtedly … [more]
After deciding to make the move into the world of IT contracting, the first task for any aspiring contractor is to decide upon the best business structure to work under. … [more]
Many contractors travel by car on business - they may be visiting client sites, or attending conferences and training sessions. However, when it comes to claiming tax relief for the costs of these journeys, the rules can be confusing. … [more]
If you are considering joining an umbrella company, you need to be able to accurately compare the fees charged by different providers. … [more]
If you want to form a new company, alongside the Companies House application itself (IN01), you must also file Articles and a Memorandum of Association. Here, we explain what these documents are, and how to submit them. … [more]
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