Expenses
What are business expenses? A Limited Company gets tax relief for the business expenses it incurs. This means the income on which the Limited Company pays Corporation Tax is reduced by genuine business expenses and tax is calculated on the remaining profit, called taxable profit. An expense is treated as a business expense when it’s […]
All you need to know about submitting your Self Assessment tax return
Many people don’t like to hear the ‘C’ word mentioned until at least December. However, if you’re self-employed, now’s the time to start thinking about the festive period, particularly with regards to submitting your Self-Assessment tax return (SATR). Here’s all you need to know: What is a SATR? Self Assessment tax return or SATR […]
Financial Services for Contractors
Planning your personal finances as a contractor Contracting offers many opportunities in terms of earnings potential and flexibility but also potential financial pitfalls. You’ll no longer have access to a company employee benefits package and optimising your take home pay and savings can be more complex when you’re a contractor. When it comes to mortgages, […]
Dividends and salary: getting the balance right
If you’re considering setting up your own contracting firm by trading under a Limited Company, then taking a mix of salary and dividends is the most tax-efficient way to take income from the business. Due to the implications associated with drawing a £Nil salary, many contractors choose to pay themselves a modest salary, topped up […]
Demystifying dividends: a beginner’s guide
For many full-time contractors, the opportunity to earn a higher take home pay after tax is among their main reasons for making the move. That, along with the freedom and enjoyment that comes with owning their own business. If you’ve decided to set up a Limited Company, you want to be certain it’s created in […]
Insurance guide
You’ve worked hard to become self-employed, either as a freelancer or Limited Company contractor, so you want to be sure everything is protected. When you buy insurance, it’s a promise that if something catastrophic happens to you or your business, your provider will help you to make it right again. In this guide we’ll explain […]
A handy guide to contractor insurance
If you’re just starting out in contracting, you’ll no doubt have a long checklist of things you need to do before you can reach out to clients. One of these tasks will be taking out quality insurance for your new Limited Company. We understand that the world of insurance can feel like a minefield, so […]
Working From Home – what can you claim for?
If you use part of your home as an office, you may be able to lower your overall cost of doing business. Here we outline some of the things you might need to know if you intend to claim expenses. Claims Firstly, you need to think about HMRC. Don’t worry, they are unlikely to make […]
Working From Home – where do you start?
Why work from home? Contracting and freelancing are fast becoming the choice career moves for more employees each year in the UK and it’s evident why. Being your own boss allows more flexibility and the chance for a better work/life balance. Choosing the jobs you want, and when and where you do them is also […]
The flexible working ‘movement’: where are we with it?
Today’s complex working landscape presents businesses with the challenge of meeting the demands of people with very different values, expectations and needs. Yet, they all seem to share a desire for flexible working. It’s little wonder, then, that the flexible working movement has gained such momentum in the last decade. Employers have recognised that the […]