Limited Companies
Potentially taxing future for service companies on a ‘dividend-based reward strategy’.
The key target areas for HMRC and how to avoid a visit from the taxman.
What’s in a name for IT contractors? Cubism Law tells CUK.
Companies House is a government agency that keeps details of every single limited company in the country.
Practical, professional and legal tips for IT contractors.
HMRC’s online documentation is littered with references to Personal Service Companies, but defining this important term, and understanding its significance for independent contractors, is a challenge.
Tips and considerations for choosing the best accountant for your needs.
Despite being one of life’s three certainties, and despite its crucial role in determining your limited company’s profitability, business taxation is often poorly understood.
Is an accountant just an expensive substitute for common sense and a little research, or can they make a genuine positive difference to your profitability?
For contractors that need to close their limited: we look at how to achieve a clean and tidy separation.
Limited Company Money
Leading tax body on why it opposes a £25,000 cap on wind-up profits.
An earner for insolvency firms, a boon to HMRC and a £5,000 tax on contractors.
A constitutionally correct tax change spells extra costs on the owners of micro businesses wishing to wind-up.
InTouch Accounting on a tax-efficient way of distributing your company’s money when closing your limited.
Five steps to take once your next invoice is overdue.
The seven steps to take before your next invoice becomes overdue.
Accounting aid for an IT contractor unsure about what he’ll get taxed on.
What to look for in a world where anyone can call themselves an accountant.
When clients cut their costs, it’s only right that contractors do the same.
Measured reassurance for an aspiring limited company put off by the National Minimum Wage Act.
Three possible answers, not four, if you understand the maths of late payment.
On the ropes or on holiday? How contractors can truly tell if an agent or client is draining their lifeblood.
Sample letters that unpaid IT contractors can use to make clients cough up.
Knowing what to do, and when, can be the difference between zero and kerching.
Tax expert on running a ‘Ltd’ company via a third party to insulate its assets if you divorce.
The most tax-friendly ways to get your hands on your company’s cash.
The hoops out-of-pocket contractors can jump through will change from next year.
Tax aid for a consultancy whose contractors will want a stake in its new business.
Because of the level of trust required and the potential risks associated with failure, an IT contractor’s relationship with their accountant is necessarily a special one. But what should you do when it comes time to bring that relationship to an end?
Depending on your view of matters financial, your annual accounts are either an opportunity or a horror story.
How you opt to pay yourself is an important factor in determining whether your decision to switch to a contracting career will pay dividends (literally).
Tax expert helps a soon-to-be hard-up 'Ltd' eyeing itself for an interest-free loan.
The emergency Budget retained dividends as the least taxing route for 'Ltd' contractors.
What clients claim to delay paying IT contractors' invoices, and how to get round it.
Your invoice is your record of services sold to your client. Here is a description of what should be in an invoice and a free Word template to get you started.
Expert advice on how to extract cash when closing down your company.
Revenue quizzes 'service companies' over complex tax rules.
Legal experts, PRMS Ltd, continue their advice on how contractors can recover debt.
Legal experts, PRMS Ltd, look at how contractors can recover debt.
Ten tips from an industry expert offering advice on how to speed up tardy payment from a client - and what to do if they refuse to pay.
John Antell describes the procedure from Letter of Claim to trial and enforcement.
As a contractor, working via an agency, or working direct with a client, you may well experience the joys of 'late payment'. Not only can this cause cashflow problems, but it can also lead to breakdown of your relationship with the client/agency if invoices are not paid on time. So, what rights do small businesses have when it comes to collecting unpaid fees?
Legal Duties and Running your Limited
No good relying on the Companies Act to tell you how to do your bit, legally.
Dodging banana skins is more critical when your business and the economy are getting back on its feet.
What to consider when agents and clients demand your personal information.
Legal expert guides IT contractors through their data rights and responsibilities.
It’s visitors, not passers-by, that should be able to notice your company’s registered name.
An overview of your financial and legal obligations.
Legal expert answers an IT contractor not bothered about keeping good accounts.
Official or not, your director role can have serious consequences, says solicitor Gary Cousins.
Why having merely the potential to harm your customer could prove costly.
New rules for directors of limited companies took effect from October 2009, including the need for a 'service address'.
New rules covering trademark applications, disclosure of company details, annual return statements and share capital reductions took effect in October 2008.
A recent update to the Companies Act means contractors should display regulatory information on communications.
Latest Limited Company News
Court ruling + tax return deadline = fertile ground for HMRC discovery powers.
Formal guidance on informally winding up expected to side with shareholders.
Dividend-paying companies are being refused a respite from HMRC.
Limited company owners who want to stop are at the heart of the OTS small business review.
HMRC’s targeting of tax cheats might find it in the dock over their human rights.
Late filing to return a £100 penalty, whether the tax has been paid or not.
'£900m' tax avoidance assault shouldn’t scare low salary, high dividend contractors.
Tax expert reminds how the self-employed unknowingly pop up on the Revenue's radar.
Contractors with SME clients face a grilling, or more, in the name of the law.
'Ltds' accused of breaking the law to pay for a lifestyle they can no longer afford.
Non-IR35 contractors should make their own judgement, as one in favour of HMRC says dividends can attract NICs.
Further Reading
One high-profile limited company user may colour the Treasury’s view of IR35.
Taxman accused of having an ulterior motive for wanting to meet the self-employed.
It wasn't me, claim directors whose dodgy dividends led to disaster.
Expert advice for a 'Ltd' IT contractor aspiring to become an agency.
Revenue is ready to visit 'at-home' entrepreneurs without warning.
Even the Inland Revenue get things wrong. If you really think the Taxman is asking for more tax than is legally due, there are ways to appeal – and taxpayers do successfully overturn tax demands and determinations.
Understanding the difference between an enquiry and an investigation. Coping with an investigation.
Inland Revenue Enquiries are very much on the increase. Tackle yours as efficiently and painlessly as possible.
Avoid the pitfalls of Self Assessment tax returns and prevent problems with the Taxman
I want to complain about how the Inland Revenue treated me and how they handled my tax affairs. How do I go about this?
Assessing the cost and relative value of professional tax advisors and accountants.
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Questions: Shares
Tax tips for a limited company owner wanting to share the business with his family.
Tax expert on using your 'Ltd' for the spouse's contract.
Accounting tips for an Arctic Systems-style business.
Tax expert helps an IT contractor hoping to split dividends with his spouse.
Adviser lets down a contractor eyeing his wife as a tax advantage.
Questions: Dividends
The Child Support Agency can take a broad view of a director's income sources.
'Ltd' contractors told of two scenarios where a dividend mustn't be paid.
Accounting tips for IT contractors who want to keep dividends unlisted.
Tax expert on how to make the most of cash left in your 'Ltd.'
Expert helps a contractor looking at invoice totals to determine dividend size.
Tax advice for an IT contractor who distributed too much.
Frequent distributions might put me on the Revenue's radar, fears one 'Ltd' IT contractor.
Contractor's Questions
Tax tips for an IT contractor planning to drain his company of leftover cash.
Advisor helps an IT contractor seeking a grant from his dissolved company to pay his debts.
Debt expert on the risks of using personal borrowing to support your business.
Legal aid for an out-of-contract 'Ltd' feeling hard done by his accountant.
What contractors can do to fix errors in Companies House paperwork.
How limited companies can party without telling the taxman.
Expert helps a contractor wanting to register someone else's address for business.
‘Merely registering your name with Companies House doesn’t give you any rights to use it.’
Timely tips for IT contractors who want to thank their company secretary this Christmas.
Ex-Revenue inspector on the potential perils of using 'Joe Bloggs Tax Services.'
Profit-shy contractors don't need an accountant, but it could help.
Dividend-paying contractors alerted to the big value in also drawing a small salary.
Expert tips to ensure your director’s loan account is free from National Insurance contributions.
How reform in Brussels could ease the accounting burden on contractors in the UK.
Salary setting, last-minute dividend drawing and other tax year-end considerations.
A tycoon's tax-saving plan isn't a shoo-in for contractor companies looking to wind-up.
'Switching to a service address won’t automatically keep creditors off your front lawn.'
'Not difficult to shorten or change accounting periods, but some restrictions apply.'
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