Legislative Update: Recruitment agencies are now liable for unpaid umbrella company taxes
New UK rules make recruitment agencies jointly liable for unpaid umbrella company taxes. Here is what you need to know before April 2026.
Understanding UK Stamp Duty And Changes From 1st April 2025
Stamp Duty Land Tax (SDLT) is a tax levied on property and land purchases in England and Northern Ireland. Buyers pay SDLT as a lump sum upon completion of the transaction. The amount depends on the property’s price and the buyer’s circumstances, such as whether they are home movers, first-time buyers, or purchasing additional properties. […]
How will the rise in inflation impact contractors?
It’s not breaking news that prices have been rising rapidly in the UK over the last year leading to inflation hitting a 40-year high, now comfortably sitting at 10.1%. This blog can’t do much to aid with the financial crisis the UK is facing, but we can provide some hope and advice regarding how we […]
Childcare schemes and contracting
On the 5th October 2018, a new Tax-Free Childcare Scheme was launched, meaning that any new applications for tax relief on childcare need to be made direct to the government. This article explains how childcare schemes work for Limited Company contractors, both prior to and after this change. Tax-Free Childcare post-October 2018 From 5th October […]
Christmas party expenses: Tiny Tim can have his turkey, after all
If only Ebeneezer Scrooge had known a bit more about tax exemptions. These days, the cold-hearted miser who only begrudgingly closes his office on Christmas Day could have thrown his employees a proper knees-up at a reduced cost thanks to an HMRC corporate tax relief exemption for festive entertaining costs. Not so much “Bah! Humbug!” […]
Take home pay
Keeping track of your finances can be tricky as a contractor. To protect your interests, it’s crucial to know how much you’ll keep for yourself, after tax has been deducted from your revenue. Surplus cash is the remaining cash balance after your business expenses, salary, Corporation Tax and declared dividends are deducted from your company […]
Business expenses
We discuss which business expenses are allowable. If you’re diligent you can end up saving yourself a pretty large chunk of money. So, what can you can claim for? Contracting through your own Limited Company allows each of the company’s employees to claim reasonable expenses. A company can claim from a long list of expenses, […]
Fee protection service
Professional fee protection is included in our fixed monthly service. Find out more about what this covers, why we include it and more importantly – why you need it to contract confidently. If HMRC raise an enquiry into your tax affairs or challenge your IR35 status (which we expect them to do more and more) […]
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 […]
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, […]