The number one question many umbrella companies are asked by their employees is: "why am I paying employers' national insurance contributions?" - here we provide the answer and explain what other costs are payable by umbrella contractors. … [more]
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If your salary is above the current thresholds, both you and your company must pay National Insurance Contributions to HMRC. … [more]
Gary Lineker has successfully won his battle with HMRC over a £4.9 tax bill. But what, in anything, does the ruling mean for contractors, when - in the end - IR35 wasn't even at the core of the case? … [more]
The tax yield from IR35 is set to reach £1.5bn per year - double the previous Office of Budget Responsibility (OBR) estimate. … [more]
The Employment Allowance reduces the amount of National Insurance employers have to pay by up to £5,000 per year. So, can your limited company benefit from this incentive in 2023/4? … [more]
The dividend allowance means that the first £1,000 of dividends you receive are tax-free. But how does this allowance work in practice in the 2023/24 tax year? … [more]
Limited companies of all sizes can distribute their profits to shareholders as dividends. This article explains what dividends are, how they are taxed, and how to properly account for them. … [more]
The Chancellor delivered his Budget speech today at 12:30 pm. Here we look at how the measures he announced will affect contractors and other small business owners. … [more]
Price is always an important factor when you're looking for a new umbrella provider. But it shouldn't be your sole consideration. Here we explain why choosing a cheap umbrella isn't always the best option in real terms. … [more]
HMRC assigns tax codes to inform employers how much tax should be deducted from an employee's salary. Here we look at what the series of numbers and letters signify, and how they affect your income. … [more]