If you work on an 'inside IR35' contract post-April 2021, then your fee-payer (agency or client) will be responsible for deducting taxes from your contract income, but exactly how is this income taxed before your limited company receives funds? … [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.
If you choose to contract via your own limited company, you will need to hire an accountancy firm to look after your tax and accounting needs (unless you're confident of doing this on your own!) … [more]
Not all contractors start work with a signed contract in place. Here we consider the risks this may involve, and why a contract doesn't necessarily have to be in writing for it to be legally binding. … [more]
Many contractors travel by car on business - they may be visiting client sites, or attending conferences and training sessions. However, when it comes to claiming tax relief for the costs of these journeys, the rules can be confusing. … [more]
If you are a professional contractor, at some stage you may need to invest in some kind of marketing for your business - but can these costs be offset against your company's tax bill? … [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]
If you're running your own limited company, there are a number of records the directors are obliged to keep. Here we explain what these registers are used for, and what types of information they contain. … [more]
As a limited company owner, you may well carry out your trade from home - occasionally, or on a regular basis. Which (if any) household expenses can you legitimately claim against your company's tax bill? … [more]
The Finance Bill was approved without division in the House of Commons earlier today; a proposed amendment by David Davis MP to delay the Off-Payroll reforms until April 2023 wasn't even selected for debate by the Speaker. This means that the private … [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]