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 […]
How to set up a new company
While setting up a Limited Company tends to involve more costs and admin than operating as a Sole Trader or under an Umbrella agreement, it also offers a wealth of benefits. Among them are greater tax efficiency, less personal liability and more control over your contracting business and personal finances. If you’re certain that your […]
The pros and cons of a Limited Company for a contractor
After much deliberation, you’ve decided to go it alone and set up as a contractor. You’ve polished your CV and LinkedIn profile and have started looking for your first contract, but you’re yet to decide on one important factor: your new company’s trading structure. As a contractor, you can either choose to set up as […]
Start contracting with confidence in 2018
Starting a long-term career as a contractor or freelancer in 2018 has become more attractive than during any time in the last two years. If you’re looking for independence and have a skill set that matches increasing current demand, then it’s possible to both ‘have your cake and eat it’, in 2018! Clarity of […]
Can Limited Company contractors claim for Christmas party expenses?
Christmas party expenses The festive season will soon be upon us and whilst you may not officially start preparing for a few weeks to come, if you’re currently contracting in an office it will be tough to escape the office Christmas party chit-chat. As contractors aren’t usually invited to the festivities, it’s only natural to […]
Am I entitled to holiday and sick pay as a Limited Company contractor?
Holiday and sick pay – what is your entitlement? Taking time off work, whether it’s planned or otherwise is rarely an issue for permanent staff, as their pay is usually undisrupted as it’s covered by the terms of their employment. So what happens when you’re a contractor and you’re not covered by the same terms? […]
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 […]
What is the subsistence allowance for contractors?
What is the subsistence allowance for contractors? It’s a regular part of many contractors’ lives to travel away from home for business related purposes. This travel could be to and from a client’s workplace in order to complete work, or making journeys elsewhere which are directly related to the work being done for the client. […]
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: […]
Are you still using spreadsheets for your contractor accounting? It’s time to change
We know that as a contractor you’re busy, and even when you’re not, the last thing you want to be doing with your time is managing your accounts, whether that’s with the help of a contractor accountant or on your own. So you want a process that’s smooth and will take up as little of […]