The Employment Allowance reduces the amount of National Insurance employers have to pay by up to £5,000 per year from April 2022 onwards. So, can your limited company benefit from this incentive? … [more]
First Timer or Veteran IT Contractor?
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.
In addition to your personal income tax liability, if your contracting salary is above the prevailing thresholds, both you and your company (limited or umbrella) will need to pay National Insurance Contributions to HMRC. … [more]
The Managed Service Company (MSC) legislation has made the headlines once again - in 2022 - as several contractor accountancy firms - and their clients - are being investigated by HMRC. … [more]
The Chancellor announced a number of tax changes during the March Spring Statement - most notably a rise in the threshold before employees are liable to pay National Insurance Contributions. … [more]
When it comes to paying dividends to shareholders, the first thing a company's directors should do is to check how much profit is available to be distributed. But what happens if you have overpaid dividends? … [more]
Doing your accounts will probably never become your favourite task. But accountancy software may make you less prone to wanting to pull your hair out. Even if you’re not a numbers whiz. … [more]
There may be a time when you need to borrow money from your own limited company. Here we look at how director's loans are treated, and how you could face a hefty tax bill if you don't plan any cash advances properly. … [more]
Are you one of the millions of people who are eligible to claim the Marriage Allowance, but haven't done so yet? Here we explain how this allowance - worth £252 per year - works, and how to claim it. … [more]
The Agency Workers Regulations (AWR) were introduced in 2010 and came into effect on the 1st of October 2011. Although the legislation is complex, the premise is simple: to protect temporary workers employed through staffing agencies. … [more]
How much will the April 2022 dividend tax (and National Insurance) increase cost you? Find out more about the tax increase, and use our interactive calculator to work out the effect on your take-home pay. … [more]