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Limited Companies

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.

How long it takes to form a company and what you need to do.

For contractors that need to close their limited, here's how to achieve a clean and tidy separation.

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?

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.

What’s in a name for IT contractors? Cubism Law tells CUK.

The key target areas for HMRC and how to avoid a visit from the taxman.

Succeeding as a contractor with a ‘Ltd’ is easier if its make-up is understood.

What dividends are; how to pay them, why and when.

When, why and how to make the switch from brolly to limited. 

How the 2016/2017 dividend tax has changed and how much it will cost you. 

Limited or Umbrella?

Thinking of switching from limited company to umbrella company?

Check out umbrella companies here

Limited Company Money

Transferring a spouse’s gift to the PSC is the only way to get tax relief and even then, watch second-hand values don’t make it a waste of time.

Twelve things that PSC bosses come a cropper with when tax deadline day approaches.

Expert advice on how to extract cash when closing down your company.

As long as you follow HMRC’s rules, your ‘annual event’ can go off with a tax-free bang, virtually or in-person.

Just like Companies House, the Revenue punishes the unpunctual. So get in way before Jan 31st.

Like Test & Trace, BBLs were the saving grace but similar to the ‘pingdemic,’ they’re now behind a sinking feeling.

How much, how often and how come dividends at all -- among other taxing issues, explained.

Overview for contractors of the document behind putting a limited company into compulsory liquidation.

Rules in 2016 still rule out many PSCs from a popular way to reduce their PAYE tax bill.

Act with speed to put a green car on your company, as today’s incentives may peter out.

The what, why, how and lingo of P&L for limited company directors.

You’ve got assets with benefits. But are you giving them the right accounts and tax treatment?

With such a big year ahead for contracting, now's the best time to set your figures at the optimum level for tax-efficiency.

The architect of a financial support package under HMT’s consideration explains how it could make all the difference to limited companies.

As Sunak’s sights are set on your stash, it’s financially better to go with 'BADR' while it’s still intact.

What if you’ve ceased trading; what if you’re not ready and what if you’ve got a director’s loan? Among other issues – answered.

A need-to-know on expenses and taxation, where the corporate and individual co-exist.

Sample letters that unpaid IT contractors can use to make clients cough up.

Find out the best way for contractors to pay for their private health insurance.

Insolvent, dormant and detailed. The Revenue’s reminder reaches many types of contractor.

Don’t let today’s deadline obscure another that’s tied to both HMRC and your directorial duties.

Credit control needn't be a tricky business for contractors, simply follow these easy, logical steps.

How to pay yourself in a way that shows (to HMRC) you run a genuine contracting business.

Regardless of why leaving a ‘Ltd’ looms, dealing with shares can be a tricky business.

Which tax and accounting duties will your contractor accountant perform on your behalf?

As many contractors feared, the measure to slice the tax-free dividend allowance from £5,000 to £2,000 from April 2018 has been officially re-tabled.

FAQs to think over before the tax year ends on 5th April. 

How comparing contractor accountants can help you choose the right one for you and your business. 

How to choose an accounting software package that suits you and your business needs. 

Choosing the right accountant for you and finding the right time to make the switch. 

Typical monthly fees, hidden costs and how to accurately compare accountants.

The three errors made with software, pitted against the three let-downs of spreadsheets.

A rundown of how the way tax is computed on your profits is suggested to change.

Pitfalls and pointers for a brave new ‘Ltd’ contractor, trying to tot up tax alone.

Expert navigates an on-the-road PSC looking to take the least taxing route.

Seasonal tax tips for a PSC director wanting to repay their other half's good will.

Why you'll want to ditch your tax adviser; what to look for and when to jump.

Being out of contract doesn't put salary, dividends and expenses out of bounds.

Check why the Revenue's repaying you before you start to celebrate.

Avoiding income extraction is about the only tax benefit to a landlord-tenant relationship.

Two key considerations loom for a contractor looking to share his shareholding.

Tax tips for a contractor convinced his agents and clients just won’t cough up. 

Tax arises no matter how a contractor gives his son a leg-up on the housing ladder.

Permie who went contracting while on leave seeks the cheapest way to extract £4k.

Profit after tax, not before it, is why distributions cannot be treated like pens and pencils.

Tax firms offering you anything over 80% invoice-value should be treated with extreme caution.

PSCs with a second director should still be able to get the Employment Allowance.

A bank account is the stumbling block to becoming limited as a non-resident.

Reassurance for a contractor who's starting-up with someone who stung HMRC.

Top tips if contractors want to play Santa without having to pay Hector.

Potentially numerous ways for 'Ltd' contractors to soften the blow from April.

Only one set of HMRC rates when on the road as a business, incorporated or not.

The least-taxing way for 'Ltd' contractors to furnish a room dedicated to business.

Pointed advice for a techie at the sharp end of limited company contracting. 

Ten tax-saving steps limited company contractors should consider taking before April 6th.

Expert warns an IT contractor that the tax break when winding-up could be in jeopardy.

The options for a techie whose business has an investment offer out of the blue.

Expert helps a limited company owner wanting to wind-up tax-efficiently so he can go perm. 

Freelancer reassured that incorporating should make working from home less costly.

The least-taxing way to draw a director's loan.

The employment allowance can't be used to reduce any deemed employment payment.

The least taxing way to put thousands of pounds in rail fees on your one-person company.

What tax-savvy IT contractors shouldn’t miss in their financial spring clean.

Eight steps for limited company contractors to take ahead of Jan 31.

Tax tips for a contractor eyeing bricks and mortar in his company’s name.

‘Other than having to charge clients more, registering for VAT looks like a safe bet.’

Expert helps an out-of-pocket IT contractor, pinning his hopes on a £10,000 software project.

Six steps to ensure a salary-dividend mix keeps saving you more than it costs.

Accountant's top tips on how to ease the burden of your incoming tax obligations.

Tax expert helps a 'Ltd' contractor wanting to grant share options to his IT team.

Real Time Information reporting to HMRC is a must for the majority of businesses from April 6th.

Contractors under investigation must dance to HMRC's tune, especially with no insurance.

No contractor can afford to chance it with a taxman that rounds up rather than down.

Expert continues to spell out how sanctions facing contractors can be ruinous.

Avoid enriching officialdom by completing, filing and paying accurately and on time.

The relief 'Ltd' contractors can get if New Year means new home due to new workplace.

Contractors must fork out more to wind-up, so take the following steps to keep a lid on costs.

Mandarins should hang their heads in shame at a tax farce of their own making, says PCG.

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. 

It’s an online thing for most contractors, but it doesn’t have to be.

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.

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.

Five ways to help get your invoice paid promptly and in full.

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.

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?

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.

What contractors can do to fix errors in Companies House paperwork.

Legal aid for an out-of-contract 'Ltd' feeling hard done by his accountant.

Expert helps a contractor wanting to register someone else's address for business.

How limited companies can party without telling the taxman.

‘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.'

A clearly written roadmap is not just a defence against IR35.

Expert help for a would-be partnership, stumped by HMRC's registration rule changes.

The least-taxing way to ‘go permie’ and then return to PSC contracting.

All contractors stand to be affected by HMRC's push for Real-Time Information.

The least taxing way to buy a mobile for Plan B, when Plan A might fold.

Tax aid for a contractor with an office at home who claims only a few pounds a week.

Responsibility falls to contractors, but most advisors will tackle HMRC correspondence.

Only in certain circumstances is a car on the company better value.

Some contractors drawing dividends should consider deferring income until next year.

With HMRC, the longer you delay; the more you’ll pay – Nixon Williams.

More than just form-filling required to remove a director from their post.

The least taxing way for a limited company, not its contractor, to own an app.

Tax tips for getting your company to foot the bill for a new mobile on an existing contract.

A 'yes/no' response is the right answer for most limited company contractors.

'The word consultation evidently means something different to the government.'

'An IR35-compliant contract doesn't guarantee that IR35 won't apply.' 

Income and capital gains tax treats on offer to a quartet of contractors eyeing Plan B.

Legal tips for an IT contractor wanting to split a new business down the middle.

When IT contractors must put a figure on what they and their business are worth.

Legal aid for an anxious limited company contractor whose business hit hard times.

Directors and the Company Secretary can each claim £150 for their Ltd's annual bash.    

'Don’t just accept that the payment on account is correct, as it’s only an estimate.'

'Not as messy if you act against a director, who won’t back down, before he acts.'

The least taxing way to take £20,000 out of a limited company before winding it up.

Expert helps a contractor stuck on the RTI submission probing his MSC/IR35 status.

An employment contract between director and 'Ltd' isn’t required, but it can have benefits.

Legal expert tells a migrant the hoops to jump through to become a UK contractor. 

Paying less corporation tax is the upside of a range of reliefs, which aren't to be sniffed at.

Accounting aid for an IT contractor who needed to be bailed out by his business.

Accounting tips for a tech company hoping to save by upgrading to SaaS.

Boozy contractor told the efficient way to blow a bigger budget than usual, now or at New Year. 

What you do, not the way you operate, determines if you need business cover.

Service agreement, articles, contract or colleagues will decide one director's fate.

Tax tips for an IT company duo who’ve taken out more than the declared dividends. 

Avoid missing any upcoming tax dates with this September/October tax diary. 

No truth in the claim that the first year or two as a limited company is a let-off period.

Three sets of regulations should be avoided when taking on other PSCs.

Private medical pointers for a PSC eyeing chiropractic and X-ray services.

Presents and food can still be on the menu for a PSC that was busy in December.

No salary to sacrifice makes an expat's idea a non-starter, quite apart from HMRC's view.

Forty-five pence a mile could soon cover a lot less for one PSC who's a parent.

Legal reassurance, of sorts, for a firm set to flout British law outside of Britain.

'However you dip your toe into contracting will see the taxman’s hands on your money.'

Three ways to help keep the crosshairs of fraudsters from locking onto you.

‘Halfway house’ tips for an uncertain contractor fearful of filing and the future.

Desperate and under threat, but one limited company boss can still take action.

Expert reminds that £150 is the total, and it’s an exemption, not an allowance.

You still need to HMRC-register, even if not extracting (a tax-free £2k).

Adviser reassures a contractor he’s unlikely to be the next Lewis Hamilton.

‘No stigma, but a lot of tax implications, particularly if you’re unadvised.’

Wait-and-see post-Budget (whenever that might be) still seems the wisest move.

Guarding against the risk of retrospective IR35 investigation is worthwhile, even if your PSC has shut.

Limited company accountant helps a mum-to-be, curious about timing to keep baby expenses from kicking.

More than one annual event can indeed be tax-free, yet beware a picky HMRC if you get too personal.

Could be £12; £40 or £100-plus. Or even ‘free.’ Yet only one route will pay dividends later.

Shoeboxes are out, but you still need a way to keep your company’s records in order for six years.

‘Enjoy your fancy food and drink, but not so much that you forget to keep a record.’

An accountant reassures a PSC director trying to spend less, with a little help from Jay-Z.

Get professional advice if you want to get politically involved by donating to a political party.

An overview on making charitable donations through your own limited company.

Even numerate contractors should think carefully before answering two key questions.

Accountant admits he’s the bearer of bad news, unless biros are better than bubbly.

Claims that it's correct to withhold money to an ‘accounts overdue’ company just don’t add up.

Five reasons why paying personally to train for a volunteering role beats your business footing the bill.

If the only reward a company secretary gets is a ‘plus one’ invite to the annual bash, tax deductibility isn’t an issue.

Barring a Budget U-turn, many limited companies will suffer increased HMRC liabilities -- higher than the government is letting on.

Questions: Dividends

What contractors should (and shouldn't) be doing when calculating their dividends online.

How even top rate PSC contractors can duck April’s 30% tax rise.

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 Mortgages

Specialist contractor mortgage brokers Freelancer Financials can secure competitive rates for contractors. 

Side-step the hassle with other lenders here.

Further Reading

How 'Ltd' contractors are affected by quarterly reports designed to enforce false self-employment law.

Limited companies may face a liability overseas, but they’re never off-limits. 

How contractors can tackle sharing a business with the likes of Darren Upton.

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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