Dividends – how often should I take them, and when are they actually taxed?
Dividends Dividends can sometimes be difficult to understand and many contractors find themselves wondering when they should take them and when do they actually get taxed? In this blog one of our Personal Accountants, Neil Kellaway answers these two questions and covers the timing and tax point of dividend declarations. Question 1: […]
Good news for contractors with children: tax-free childcare has (almost) arrived
Back in 2013 the Government announced a new tax break for working parents, providing help with paying for much needed childcare. In this blog we take a look at what the scheme entails, how you can take advantage of the scheme, and when it becomes available. What is the Tax-Free Childcare Scheme? Effectively, […]
The rules surrounding tax and Christmas gifts
Tax and Christmas “It’s the most wonderful time of the year” or so the song goes, when people are busy thinking about what gifts to get each other and possibly what they’ll receive in return. But what are the rules surrounding gifts to employees or clients? Can you claim back the VAT and tax? In […]
Are Christmas party expenses claimable through your Limited Company?
Christmas party expenses The festive season is well and truly upon us and with less than two weeks until the big day, this weekend is traditionally the most popular weekend for the office Christmas party. So if you’re currently contracting in the midst of the office excitement on site, it’s only natural to feel a […]
How to invest in another company tax efficiently
How to invest in another company tax efficiently Picture the scene; you have a friend that has offered you shares in their own company. You want to invest, but is it more tax efficient to purchase them through your Limited Company, or personally? Duncan Strike, Director of Intouch Accounting, explores below what it […]
If you contract from home, you’ll want to read this…
6 ways to beat loneliness when working alone Contracting from home can be great; you get to design your perfect working space, what radio station you listen to and enjoy endless cups of tea whilst wearing your slippers (should you wish to). But whilst it can sound like the perfect working environment for many, loneliness […]
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 […]
What every Limited Company contractor should know about the Personal Savings Allowance
Personal Savings Allowance 6 April 2016 was a big day for Limited Company contractors, with many new changes affecting their everyday professional lives. One of these changes was the introduction of a new Personal Savings Allowance (PSA) which will see around 95% of taxpayers no longer having to pay any tax whatsoever on their […]
Renting accommodation as a Limited Company contractor
Renting accommodation Most contractors will consider renting accommodation when taking on a contract that’s some distance away from their home. Your Limited Company can always foot the bill, but how do you know if it’s classed as a benefit in kind? Provided that the expense is a legitimate business cost, HMRC will not […]
The Limited Company contractor’s guide to Entrepreneurs Relief
Entrepreneurs Relief What is Entrepreneurs Relief (ER)? ER was created to encourage people to set up and grow their own businesses, by providing a reduced level of Capital Gains Tax (CGT) on business disposals (when you decide to either sell or dissolve your Limited Company). Who can claim ER? ER is available to […]