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Showing 121 - 128 of 174 articles

  • Setting Up A Limited Company: A Jargon-Free Guide

    Incorporating your company is a shrewd business move for a contractor or freelancer. By setting up a limited company, you can protect more of your hard-earned profits, and minimise risk when dealing with high-value clients and contracts.

    However, the ins and outs of going limited can seem a little overwhelming at first. To help you get your head around the steps to incorporating your business, we’ve put together a handy guide on how to set up a limited company.

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  • What Expenses You Can and Can’t Claim

    Registering as a limited company can help you minimise your tax burden, provided you go the right way about claiming expenses on your tax return. As such, it’s crucial to understand what you can and can’t claim as a business expense.

    To give you an introduction to allowable expenses, here are a few things to consider when filing your receipts and managing your accounts, to ensure you pay HMRC not a penny more than you owe.

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  • Understanding Your Corporation Tax Liability

    As a limited company, your business is liable for corporation tax, levied on the profits of your company at the end of your financial year. To ensure that you have adequate funds to pay this by the tax return deadline, it’s crucial to understand the ins and outs of corporation tax, and your own liability.

    Whether you’ve recently incorporated your company or you want to understand how incoming changes to legislation affect your tax liabilities, let’s take a closer look at corporation tax.

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  • Automating Your Bookkeeping Processes With FreeAgent

    Contracting and freelancing gives you the power to set your own work hours and rates, to leverage your skills to their full potential. However, keeping track of your finances can be a headache for a one-man or woman band. Unless your accounts are in order, your bookkeeping could come back to bite you.

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  • Do You Really Want Lower Fees From Your Accountant?

    Self-employment gives you almost unlimited earning potential, but it also comes at a cost. Unless you want to spend every waking hour at your desk, it’s essential to bring in external support from qualified professionals, especially where your accounts are concerned.

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  • Paying too much through an umbrella company?

    Type ‘Umbrella Company’ into Google and you‘ll come across an array of outrageous claims, 90% take home after tax probably the most popular line put forward. In reality most umbrellas won’t get close to that – unless they’re breaking the law (tax avoidance) – and in contrast you’ll probably see higher bills thanks to their poor PAYE tax efficiency.

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  • Reassuring your IR35 status with a review of your contract and working practices

    We’ve written about IR35 an awful lot on this blog, as it’s a tricky piece of tax legislation every contractor should be aware of. In our introduction to IR35 we covered the very basics, but we didn’t delve too deeply into how you could avoid its tentacles.

    With that in mind, lets take a closer look at how you can limit its impact. First things first though, let’s have a quick refresh of the legislation…

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  • Startup contracting: what you need to know

    The latest labour statistics show that self-employment is at an all-time high, 4.66 million people now making a living this way. Tens of thousands take the plunge every month, swelling the ranks of the self-employed – contracting one of the most popular options for those choosing to go it alone.

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