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.
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 […]
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 […]
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 […]
Dividends – how often should I take them, and when are they taxed?
Dividends can sometimes be difficult to understand and many contractors find themselves wondering when they should take them and when they actually get taxed? In this blog we answer these two questions and cover the timing and tax point of dividend declarations. Question 1: When are dividends taxed? Is it when they’re paid, or the […]
What are alphabet shares and why do contractors need to be aware of them?
What are alphabet shares? Limited Companies are traditionally formed with a nominal number of ordinary shares. As the company grows and more shareholders are added, alphabet shares are certainly something to consider. In this blog, our Personal Accountant Patrick Gribben explores what alphabet shares are and how they could be of benefit to […]
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, […]
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 […]