Many people have outstanding student loans when they start contracting, but how do you calculate and make repayments if you work through your own limited company? … [more]
How to calculate student loan repayments as a limited company director
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Read the 10-Step Guide →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. … [more]
How healthy is the contracting market in 2024, and what challenges lie ahead?
2024 is shaping up to be an interesting year. With global conflicts, an upcoming UK general election and the US presidential election later in the year, there is a lot of uncertainty in the air. How is the contracting market faring at the moment? … [more]
Can I pay my husband/wife a salary from my limited company?
If you are contracting via a limited company, you may have considered paying your spouse a salary. An accounting expert explains the tax and payroll implications. … [more]
Can I gift a share in my company to my wife? Are there any tax consequences?
The issue of splitting limited company shares with a spouse or partner has been the subject of much confusion and debate over the past few years. … [more]
How many IT contractors are there in the UK currently?
At IT Contracting, we've been asked this question so many times over the past 15 years. Unsurprisingly, there is no single authoritative source to help answer this question. … [more]
What happens if you overpay company dividends?
When paying dividends to shareholders, the first thing a company's directors should do is check how much profit is available to be distributed. But what happens if you have overpaid dividends? … [more]
Understand your umbrella company payslip – including an example
It can be challenging to understand how net pay is calculated when you receive your first umbrella company payslip. However, the actual payslip is fairly straightforward to understand once you know what to look for. … [more]
Can I transfer any personal assets to my limited company?
When you incorporate your limited company, you may have assets which you want to transfer into it. But how do you go about this, and what tax rules should you be aware of? … [more]
Can I fund childcare costs via my limited company?
Childcare costs cannot generally be paid for by your business - for obvious reasons. However, company directors and other employees can usually claim personal tax relief via the Tax-Free Childcare Scheme. … [more]