As a result of the April 2021 Off Payroll changes, more individuals than ever are using umbrella companies. In an unregulated industry, the consequences of choosing an unscrupulous provider can be severe. … [more]
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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]
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]
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]
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]
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]
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]
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]
Investing in improving your own skills or those of your employees can give you a crucial edge when it comes to pitching for new contracts. However, before funding training via your limited company, it’s important to know what you can - and cannot - … [more]
Under the off-payroll rules, from April 2021, private sector clients are responsible for determining a contractor's IR35 status. The decision must be contained within a Status Determination Statement (SDS), alongside the client's reasoning. … [more]