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 […]
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, […]
The top five contractor tips on how to get paid upfront
Get paid upfront Limited Company contracting is fantastic in many ways – you’re your own boss, you can choose when you work and for how long, and have total freedom to design your professional career as you see fit. But like any great opportunity, there are still some downsides… Not being paid on time […]
The contractors’ warchest – spend or save?
The contractors’ warchest Most Limited Company contractors or freelancers build up a warchest, to ensure they are covered financially for any breaks in contracting. Having provisions for such an occurrence makes perfect business sense, but what happens when your warchest is a rather substantial size? Should you spend or save? You’ve just started contracting […]
What can you do if your client cancels your contract?
Your client cancels your contract – what now? Getting culled by a client is no fun. It can deal a huge blow to your cashflow and confidence. Whether you’re at fault or faultless, it pays to know what to do when a client calls time on your contract. In this blog, we show you […]
Flaky clients – a step by step guide to dealing with late payments – Part two
Dealing with late payments – part two As a contractor or freelancer, one of your main gripes will probably be late payments from clients. They promise to adhere to your payment terms and conditions, you complete the contract on time and then payment never seems to arrive when expected… In last week’s blog we explored the […]
Flaky clients – a step by step guide to dealing with late payments – Part one
Dealing with flaky clients – part one Sadly, late payment is something which every contractor and freelancer will probably have to deal with at some point. Whilst it can be considered the nature of the beast, it’s not something which you as a professional should expect nor have to put up with. This […]
Borrowing company money
IT contractors’ guide to borrowing company money The facts behind the Directors Loan Account Taking money from the business for personal use when trading as a partnership or sole trader is fairly straightforward and, unless there is a drain on company assets, there are generally no tax implications. A limited company, however, is a separate […]
Can I use company money to pay my personal mortgage?
Can I use company money to pay my personal mortgage? Contractors who set up as a Limited Company may find that they have surplus cash in their account, which earns very little interest in the company bank account. A question that many Contractors have is if this money can be used to offset a personal […]
Student loans
Student loans It’s fast approaching tax return season here again at Intouch, so we’re focusing our attention on the things you’ll need in order to complete your return. It’s useful if you have everything to hand before you start your return as it saves going back and forth gathering information – especially if you leave […]