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]
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.
At some stage, whilst working via your limited company, you may face a situation where you need to relocate to take up a new contracting role. You may be able to offset your moving costs against your company's tax bill. … [more]
The March 2021 Budget contains a large number of announcements that will affect contractors - including a 2023 Corporation Tax hike, many frozen tax allowances, and a variety of other measures which we have outlined below. … [more]
The Chancellor has confirmed that the Corporation Tax rate will rise to 25% from April 2023, with a system of tapered relief for companies with profits of between £50,000 and £250,000. How much will this new measure cost you? … [more]
The arrival of IR35 reform in the private sector on 6th April will see the responsibility for determining IR35 status transfer from the contractor to the medium or large company engaging them. As a result, lots of contractors are wondering how they … [more]
Umbrella companies have flourished over the past decade in the UK, and can offer a ‘hassle free’ business structure to operate under for many contractors. With hundreds of suppliers on the market, we look at how a PAYE scheme operates in practice, … [more]
The forthcoming (April 2021) off-payroll rules in the private sector have led to much discussion about the use of consultancies as a potential workaround. … [more]
If you have decided to trade via your own limited company, you have to submit an application to Companies House, the registrar of companies. Here, we've listed 10 bits of information you need to collect in advance to ensure your formation can be … [more]
To successfully avoid IR35, both the terms of a contract for services, and the working practices of the individual providing these services must demonstrate that the worker is in business on their own account, and not merely a disguised employee. … [more]
If you decide to contract via an umbrella company, you will be entitled to receive holiday pay (as an employee of the company). Here we look at what holiday pay is, and how it is calculated. … [more]