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Money News & Guides

Money & finances. General advice for IT contractors

Contracting allows you freedom to build up a varied and impressive CV and the financial rewards can be far greater on leaving permanent work.

10 Ways to make more money as a contractor

Most IT contractors don't take full advantage of the opportunities afforded to turn their companies into real small businesses. Here are 10 suggestions.

Mortgages for IT Contractors

Property purchase represents a relatively secure and often very profitable investment that should be at the forefront of any IT contractor wish list when it comes to deciding on future financial goals.

Pensions simplification

'A' Day (Appointed day) arrives on 6th April 2006 and brings with it sweeping and radical changes for contractors looking to invest in a pension – either via a one-man limited company or personally.

How IT contractors can offset the 50p tax

Accountant tells CUK of the ways IT contractors can ease the pain of tax at 50p.

Contractors can avoid the 60% tax rate

£100K+ contractors to feel the effects of no personal allowance, says IFA.

National Insurance – a contractor’s guide

A guide to NICs payable by limited company and umbrella contractors.

Filing exemption is a fix for something that ain’t broke

Why contractors should oppose the simpler filing regime for micro-business, by Safe Collections.

Contractor tax returns – explained

Sole trader or Ltd? There are hard and fast rules when declaring to HMRC.

Ten investment tips for smarter returns

Expert nuggets to help contractors turn their investments into golden opportunities.

What the Eurozone crisis means for contractor mortgages

It’s all Greek to me!...How could the Eurozone crisis impact contractor finances?

What the Eurozone crisis means for contractor pensions

Contractor Money's second guide for contractors, as stock market based investments suffer extreme volatility and UK gilts yields plummet to historic lows.

Five steps to a prosperous 2012 as a contractor

Contractors’ IFA shares his top tips for financial security this year, and then some.

Final steps to a prosperous 2012 as a contractor

Contractors' IFA continues his tips on making your money go further than last year.

Is your freelance business ready for the tax year-end?

Clock is ticking for the self-employed to legally and ethically save tax.

When your client stops paying you promptly

How contractors can respond to a regular client who starts paying irregularly, or not at all.

Getting paid top rate when you didn't set a price

No signed contract? No agreed price? Fear not, says business solicitor Nigel Musgrove.

More and more contractors see the sense in let-to-buy

IFA: Contractors struggling to sell-up may have an upside that's long-term and lucrative.

Why contractors should draw up a Will

10 reasons you can’t afford to put off considering your demise.

Auto-enrolment pensions: A contractor's friend or foe?

IFA: 'We're all In' adverts are aimed at employees, but potentially contractors too.

Contractors: act now to avoid child benefit cut

£50k-plus contractors can dodge the worst of the claw back, but the clock is ticking.

How life-insured contractors can save tax

IFA: Putting premiums through your limited company avoids enriching the taxman.

How contractors will fare under contentious IHT reforms

A trio of trusts are now ripe for contractors to review, as the taxman is about to step in.

Contractor guide to Accelerated Payment Notices (APNs)

Everything you need to know about APNs, which are now in force and not to be ignored.

Contractors' 2015 financial calendar - Q1 & beyond

Your dreams and obligations may be poles apart, but knowing when to act is the key to both.

How contractors can avoid imminent RTI penalties

Stop yourself sleepwalking into automatic month-on-month fines from Friday.

What the political parties plan for contractors' cash

IFA analyses which political party might impact your personal finances the most.

Capital Gains Tax: a timely guide for contractors

What contractors need to know about CGT ahead of possible reforms next week.

IFA's guide to avoiding the new dividend tax

How contractors can cut their tax bills when dividend reform bites in 2016.

The Summer Budget squeezes contractors may have missed

IFA: While the cost of cover will go up, the tax take on your buy-to-let doesn’t have to.

How Summer Budget 2015 affects contractors' cash

IFA on the personal finance highs and lows of the chancellor's red book.

Why the future's bright for contractors with kids: Guide to Childcare Vouchers

Having a business to run - and mouths to feed - is going to be more palatable from next April.

A Guide to getting a Contractor Mortgage

Simple guide to everything you need to know about obtaining a mortgage as a contractor.

April 2017's tax changes: a contractor’s overview

IFA's rundown of new financial rules, and how to prosper in spite of them.

Working Tax Credits: a timely guide for contractors

The one-man band who stood up to HMRC is proof it's easier if your knowledge can't be picked on.

Tax-Free Childcare: what contractors need to know

Vouchers, schemes, eligibility from October? Answers in bite-size chunks for contractors with kids.

2018/19 tax rates and allowances for contractors

Tax rates and allowances that contractors should be aware of this tax year. 

Business bank account vs Personal bank account: The debate

How a business bank account can benefit your contractor business. 

Mortgages, Pensions and ISAs

Contract mortgage applications at a two-year high

More contractors climbing on the property ladder isn't just good for the economy.

Why now may be too late to top-up contractor pensions

For some contractors, the incoming pensions cap is already as good as here, writes IFA Tony Harris.

Contractors could be missing out on 69% tax relief

Property isn’t the safe investment it once was, writes IFA Tony Harris, despite contractors relying on it for retirement.

Why contractors won’t agree that ISAs don’t work

Sheltering funds from the taxman is incentive enough for some, writes ISA expert Tony Harris.

Contractors can cut the tax take on pension funds

IFA: If you know the drawbacks, new drawdown rules can safely preserve more of your wealth.

Contractor mortgage-hopefuls don’t need three years’ accounts

Trading history for the self-employed is a home ownership barrier that contractors can easily overcome – IFA.

AWR isn’t mortgage material for umbrella contractors

No name – no deal, say wary lenders, unsure of umbrella working under the AWR.

How to pick a good investment

Low cost funds clearly have the edge over high costs funds if it’s all about return.

Fear of a cap on pension tax relief is worse for the inert

IFA: High earning contractors should act now to soften a potential blow on March 21st.

Contractors need not accept variable mortgage rate hikes

Act today or join the thousands of homeowners facing steeper repayments tomorrow.

Not all mortgage deals punish the self-employed

Contractors have a lifeline beyond IT-based mortgage boxes and unaware branch staff.

New rules on financial advice and NEST – contractors’ overview

IFA on rule changes and a possible pension plan - with the benefits of the CUK Money Club, and without.  

Contractor mortgages needn't have a sting in the tail

IFA: Rumours of the demise of interest-only contractor mortgages have been greatly exaggerated.

How contractors can cut their corporation tax bill

IFA: Promptly putting a pension to use can legally deprive the taxman of your profits.

Contractors should act now to secure 50% pension tax relief

IFA: Top earners can’t afford to delay, so make a personal contribution before April 5th.

Contractors get a lifeline in the interest-only mortgage crackdown

The perfect workaround to the FCA's new rules is already here, before they bite from next April.

Contractors handed unprecedented leg-up the property ladder

IFA reveals the Help to Buy lender who is being contractor-friendly to all.

Contractors with no will in place may fear inheritance reforms

Spouse-friendly proposals to alter inheritance laws are sure to inspire some to make a will. 

A contractor's comprehensive guide to ISAs

All you need to know about Individual Savings Accounts as a contract professional.

CUK Exclusive Interview: IFA on Help to Buy for contractors

For better or worse, 95% mortgages using your gross annualised contract rate are now on offer.

Why now's the time for contractors to remortgage

IFA: Shelter yourself from the impending rise in interest rates by going fixed.

Contractors, there's still time to score this ISA season

Take a final shot at your investment goal before the tax year-end whistle blows.

Mortgage Market Review: how it affects contractors

What new mortgage application rules, now in force, might mean for you.

Contractors will be hit hard if Webb gets his way

IFA: Pensions tax relief is an unwieldy mess, but a 30% flat rate won’t add up to many.

Contractors, are you making the most of NISA?

Three big financial events for contractors have, in as many months, become easier to plan for.

How contractor pensions are being shaken up

IFA: A raft of radical pension rule changes is ready for contractors to jump upon.

Pensions changes: contractors' six-month review

Exercise the new nest egg freedoms before another (positive) pension change takes effect. 

Contractors' Questions: Can I pay myself via a pension?

The lowdown for tax-savvy over-55s who want to earn through retirement funds.

Mortgages for returning expats and foreign nationals

Mortgages for returning expats and foreign nationals

Contractors' Questions: Which stock to buy with £2,000 for my SIPP?

'Don’t double up your risk by investing your pension where your contracting income is.'

Budget Analysis for Contractors

Budget 2011: an IT contractor’s financial review

What the Budget means for you, by contractor money expert Tony Harris. Part 1: ISAs, pensions and sin taxes.

Budget 2011: an IT contractor’s financial review

What the Budget means for you, by contractor money expert Tony Harris. Part 2: Mortgages, reliefs and investments.

IFA on how Budget 2013 impacts your pocket

What Osborne did to mortgages, investments, pensions, parents and pints.  

How contractor finances fared in Budget 2015

IFA says both ends of your contracting career should be better off under Osborne.  

Money News

Hammond tipped to hit high-earners at Budget 2018

Expected announcements on personal tax and pensions to pinch most if you pay at 40%.

15th October, 2018
Minister moves to end late payments for one-person firms

Package with a bold claim is welcomed, but biting late payers is still seen as the ultimate solution.

15th October, 2018
New contractors have until tomorrow to register with HMRC

Eight reasons why you must register quickly to soon self-assess (includes if you’re a new PSC).

4th October, 2018
Stride slammed for self-employed NICs answer

Treasury minister says modernising Class 2, not axing it as promised, shows government support.

1st October, 2018
Stripper's naughty nurse outfit ruled as a legitimate expense

Kinky costumes join the list of expenseable items, at least for one self-employed taxpayer.

14th September, 2018
VAT repayment proposal on late refunds ‘unfair’

Calling time on the taxman’s 30-day clock is denounced as likely to hurt companies’ cashflow.

11th September, 2018
Tax office taking longer to take your phone call

HMRC's five-minute response target almost missed, and its 10-minute wait volume almost exceeded.

30th August, 2018
Digital tax account documents ‘provide clarity’

VAT-registered companies handed fresh guidance on what to do from April 2019.

29th August, 2018

Contractor's Questions

Contractors’ Questions: What if I’m still unpaid a year later?

‘The reputable won’t require you to fork out before they recover what you’re owed.’

Contractors' Questions: Can I contribute to a pension via my PSC?

Nest eggs come with tax savings when PSCs pay monthly into employer contributions.

Contractors' Questions: How to rent out a property as a 'Ltd' contractor?

No quick fix for a PSC whose property let is too short term for tax treats.

Contractors' Questions: How to make my two properties less taxing?

Mitigating stamp duty isn't possible; circumventing it all together is -- IFA. 

Contractors' Questions: How to buy-to-let via my limited company?

Top tips for a contractor whose second 'Ltd' is meant for properties but is standing empty.

Contractors' Questions: How to turn local currency into more pounds?

Foreign exchange expert helps a contractor who accounts in sterling, yet invoices in everything but.

Contractors' Questions: Is Brexit already affecting my finances?

IFA tots up Leave's initial impact on home loans, cover and nest eggs.

Contractors' Questions: How much deposit will a HMO buy-to-let require?

Some specialists will let you 'gear up' now, if you're willing to put down more first.

Contractors' Questions: What if I can't rent a house as a PSC owner?

Lettings agency woes hinder a permie trying to move up, and out.   

Contractors' Questions: How to avoid buy-to-let stamp duty hike?

Going in with your spouse can exempt you from now in force surcharges. 

Contractors' Questions: Is National Insurance pro-rata?

When it’s deducted is the key NI difference between employees and directors.

Contractors' Questions: Will being a contractor affect my mortgage?

Becoming your own boss isn't necessarily your lender's business, reassures an IFA.

Contractors' Questions: Is Help to Buy for me amid pre-election lull?

Top tips on the quiet housing market for a contractor being badgered by an agent.

Contractors' Questions: Must their invoice be paid even if we've shut?

Debt specialist says a liability may still exist, in contractual if not practical terms.

Contractors’ Questions: Which lender’s best for adding a permie to my mortgage?

IFA: Don’t expect your current lender to trump the rest; shop around or specialise.

Contractors’ Questions: Can I jump from renting to buy-to-let?

Reassurance for a freelancer who doesn’t want to live in the first property he buys.

Contractors’ Questions: Any new dates for my 2014 tax diary?

What contractors need to do for tax purposes and when.

Contractors' Questions: Is buying solar panels tax-deductable?

'Eco-friendly or not, tax write-offs beyond your trade’s purpose won’t fly with HMRC.'

Contractors' Questions: Should I build a nest egg personally or via my company?

IFA helps a limited company owner wondering if he’s missing a trick on pension contributions.

Contractors’ Questions: How to pay tax on a 'one-off' IT contract?

'Even just dipping your toe into IT contracting has tax consequences.'

Contractors’ Questions: How to deal with unpaid invoices?

Expert aid for when IT services suppliers are left out-of-pocket.

Contractors’ Questions: Can our company buy assets for my pension?

IFA helps an IT contractor eyeing a French holiday home as his nest egg.

Contractors’ Questions: Is my agent’s RPO firm a legit way to get paid?

Reassurance for an IT contractor whose agent isn’t liable to pay him.

Contractors’ Questions: What if my debt collection agency gives up?

Legal aid for an IT contractor chasing the chasers of his unpaid invoices.

Contractors’ Questions: Where’s best to invest abroad?

Investment tips for a UK contractor hoping to profit in spite of the falling pound.

Contractors’ Questions: Why so few mortgage options?

IFA helps an unsure ‘Ltd’ contractor coming to the end of fixed repayments.

Contractors' Questions: How to invest my company's leftover cash?

IFA on how to make the most of money left in contractor business accounts.

Contractors' Questions: Can my client refuse to pay?

An IT contractor in legal bother may be able to a launch a claim of his own.

Contractors' Questions: What about pensions as a couple?

IFA says it's never too late for contractor couples to talk about pensions.

Contractors' Questions: What are my pensions options?

IFA on how contractors can add to a pension pot or start a nest egg from scratch.

Contractors' Questions: Does late payment void my contract?

Legal aid for a contractor being told to blame the economy for not getting paid.

Contractors' Questions: How to invoice clients in the EU?

Tax expert helps a non-VAT freelancer being told off over invoices.

Contractors' Questions: When can I charge interest for late payment?

Legal expert on when to take an interest in the late payment law.

Contractors' Questions: How does the 2010 Budget treat company cars?

Tax advisers demystify changes to the rules for company cars, van and fuel.

Contractors' Questions: Can I claim JSA while contracting?

Freelancers are entitled to benefits if they work less than 16 hours a week, says PCG.

Contractors' Questions: How do I switch my ISA?

Financial advice for IT contractors wanting an ISA with a higher return.

Contractors' Questions: Can I duck the NI rise?

Tip for a contractor wanting to avoid the higher rate of national insurance.

Contractors' Questions: Are my pension shares duds?

Expert aid for a freelancer whose new pension shares are pointing downwards.

Tax Tables

Tax tables and allowances 2011/ 2012

A guide to the Inland Revenue Taxes and Allowances for 2011. Includes NI, Corporation Tax and Personal tax rates.

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