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If you're working through an umbrella company, you may have noticed deductions on your payslip for the Apprenticeship Levy. Here we explain what this charge is, and how it is calculated. … [more]
The planned April 2022 National Insurance 1.25% hike will be painful for almost everyone in employment. But, not for the first time, umbrella company workers are in line for more pain than most. … [more]
Almost all contractors who provide professional services to clients trade via their own limited companies, or join a PAYE umbrella. Here we've compiled a table to help compare the pros and cons of each structure. … [more]
If you are working via an umbrella company, you may incur a variety of business expenses during the course of your work. Here we look at how expenses are treated for tax purposes. … [more]
If you've spent personal funds setting up your contracting business, what scope is there to reclaim these costs from your limited company, once it has been incorporated? … [more]
The main method company owners use to draw down business profits is by distributing dividends to the company's shareholders. In most cases, this is a simple process, but what happens if you mistakenly declare dividends which are greater than the … [more]
There really is nothing worse than dealing with an accountant who is a poor communicator. Or one with substandard accounting skills and/or is a late filer. For a stress-free life as a contractor, you should research the market for the best accountant … [more]
In line with a series of amends to VAT payments made by the government in response to the COVID-19 pandemic, the VAT deferral payment scheme was introduced to support businesses during the pandemic, helping them preserve cash during an undoubtedly … [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 considering joining an umbrella company, you need to be able to accurately compare the fees charged by different providers. … [more]
