There are many legal types of tax relief available for all UK registered companies, no matter their size, that could save you thousands on your annual tax bill. You just need to know what they are, when they apply, and how to use them. … [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.
You may have heard your accountant or bank manager talk about your “balance sheet” and “profit and loss account”. What do these terms mean, and what information can these documents provide you about your company? … [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]
One of the main attractions of working via your own company is that the liability of shareholders is limited. So, to what extent is the liability of company directors limited? … [more]
Capital allowances allow you to claim tax relief on assets you buy for your business. The value of these items can be offset against your company's profits over time. So how do capital allowances work in practice? … [more]
With the arrival of private sector off-payroll rules from 6th April 2021, is working as a sole trader a smart way to ensure your contract work falls outside IR35? … [more]
The Government has published guidance on 'mini umbrella company fraud' - the widespread practice of setting up multiple companies to employ temporary workers - with the sole aim of abusing the Flat Rate VAT and Employment Allowance schemes. … [more]
There are several ways to set up your own limited company; via an accountant (a popular way), via a company formations agent, or direct with Companies House. Here we look at the typical costs associated with each option. … [more]
If you've decided to close your limited company, a members' voluntary liquidation is the most tax-efficient way to do it. Here we explain what an MVL is, and how the process works. … [more]
The profits generated by UK companies of all sizes can be distributed to shareholders as dividends. Limited company professionals, such as contractors and consultants, typically draw down the bulk of their earnings in the form of dividends. … [more]