IT Contractor Essentials
Read our step-by-step setup guide, with everything from navigating IR35 to submitting your first invoice.
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Bad debt relief allows a limited company to reduce its taxable profits where invoices are unlikely to be paid, helping contractors avoid paying Corporation Tax on income they may never actually receive. … [more]
HMRC's new MTD for ITSA regime is now live. If you operate through a limited company, the good news is that this almost certainly doesn't affect you - but almost isn't the same as definitely. … [more]
It’s not unusual to spot a mistake after your company accounts have been filed. This could be anything from something minor to forgetting to include income or expenses before your accounts were prepared. … [more]
With costs rising across the board, it makes sense to review your business outlays. Accountancy fees are one of the regular costs that most limited company directors can’t avoid. … [more]
If you work through an umbrella company, you can benefit from 'continuity of employment' - whereby you continue to be employed by the umbrella even when a particular contract ends. … [more]
We all have causes close to our hearts, and if you are contracting through a limited company, you can factor in donations to charity as part of your overall tax planning strategy. … [more]
Salary sacrifice is a popular option for contractors who want to reduce their taxable income while gaining access to non-cash benefits. It is mainly used to make tax-efficient pension contributions. … [more]
The government is consulting on new reporting requirements for close companies, focused on how small limited companies report payments, loans and other transfers of value involving their shareholders (‘participators’). … [more]
HMRC assigns tax codes to inform employers how much tax to deduct from an employee's salary. Here, we look at what the series of numbers and letters signifies and how they affect your income. … [more]
A company can still pay dividends even if it has made a loss in the current year, provided it has sufficient retained profits in its accounts. … [more]
