How much salary should I pay myself as a Limited Company contractor?
How much salary should I pay myself as a Limited Company contractor? Making the right choice on the level of salary to draw as a Limited Company director and contractor is one of the more important decisions to take. Surprisingly though it’s not just an annual decision, taken at the beginning of each tax year, but […]
HMRC Penalties: a carrot or a stick?
HMRC Penalties In a recent document inviting views and comments by 11 May 2015, the Revenue ask taxpayers and agents what they think about ideas they are having on potential changes to the penalty regime, introduced under the HMRC Powers Review 2005-2012. As HMRC become more digitally savvy, in an attempt to help taxpayers get […]
Business start up checklist
These are the comprehensive steps that are gone through when incorporating a new company. Its a long list but most advisers talk you through the process and answer your questions as you go… Company Incorporation: Forming a new company for you to trade through Steps Involved Select company name and check availability Check internet domain […]
VAT! Could you be paying too much?
Could you be paying too much? The benefits and burdens for contractors of the flat rate VAT scheme Could you be paying too much VAT? Welcome to another edition of our regular ebriefs, designed to keep you up to date with issues affecting contractors and freelancers – helping you to make the right decisions, every […]
Working from home
[widget id=”bcn_widget-3″] Contractors’ guide to using your home as an office Working from Home? – Don’t forget the home office as tax-deductible expenses. Setting up a Limited Company generally involves functions that occur away from the client’s premises. Many administrative jobs, planning, report writing and preparation are most likely performed from home. Other companies […]
Outgrown your Umbrella company?
Outgrown your Umbrella? Sometimes an Umbrella arrangement is exactly the right solution you need when you are a freelancer or contractor. There are other times when it will feel restrictive and won’t meet all of your objectives; usually, tax matters and accounts control. But how do you get to grips with the differences without having […]
Business risk, personal protection and insurances
Business risk, personal protection and insurances… Are you covered? Running a business always has some element of risk so it’s not unusual to look for an insurance policy to protect the business. Whether it’s professional indemnity insurance to cover the risk of making a mistake, employer and public liability or business contents insurance most businesses […]
Agency workers regulations – could you lose out?
AWR – could you lose out? By now you’ve probably heard the abbreviations AWD or AWR, which are often used interchangeably – AWD being the Agency Workers Directive and AWR, the Agency Workers Regulations. But, do you know what it’s all about and, most importantly, do you know if it affects you and, if so, […]
Beginner’s guide to Limited Company tax
Beginner’s Guide to Limited Company Tax If you are thinking about becoming a limited company contractor or you already run your own company, you will need to consider the different taxes you’ll encounter. Limited Company tax seems complex, but here at Intouch Accounting, our personal online accounting advice for contractors and freelancers can help you […]
Embrace IR35! Still set up a Limited Company to enjoy the other benefits
Embrace IR35 Embrace IR35! Still set up a Limited Company to enjoy the other benefits. Is being inside IR35 legislation really the end of the road in going Limited? We think not. It’s not unusual for a contractor to fear IR35 regulations or regard them as some form of penalty for doing something wrong. However, […]