Top ten contractor questions to ask a specialist contractor accountant
Contractors should ask these ten questions to check whether an accountant is a contracting expert before signing up, says Baker Watkin’s James Abbott.
Avoiding the tax issues of transferring assets from limited companies to contractors
Contractors can face unwelcome income tax and employer’s NI charges if they fail to follow the rules when transferring ownership of a company asset.
Dormant limited companies: guidance on HMRC and Companies House rules for contractors
Contractors maintaining dormant limited companies must abide by rules set out by HMRC and Companies House, explains David Colom of DJ Colom & Co.
Contractor guidance on record keeping for HMRC’s Business Record Checks
Contractors can easily ensure their records are in good order if HMRC undertakes a Business Records Check, says InTouch Accounting’s Paul Gough.
Business bank account savings protection under FSCS
Contractors qualify as small businesses under Financial Services Compensation Scheme rules so business bank account cash up to £85,000 is protected.
Investing your company money in gold
Gold could offer contractors seeking investments for their limited company’s surplus cash a greater return than other investments.
Contracting via a limited company: Preparing to trade
Contracting via a limited company requires a bank account and registration with HMRC before trading can start, explains InTouch’s Clare Rickman.
Contracting via a limited company. An overview of the start-up process
Contracting via a limited company is straightforward, as long as contractors get the basics right from the outset, says InTouch’s Clare Rickman.
Contracting and subcontractors: tax, VAT and employment issues
Contractors subcontracting client work to other contractors should be aware of the tax, VAT and employment issues, says James Abbott of Baker Watkin.
P35 Employer Annual Return service company question and IR35 - contractor guide
Contractors working through their own contractor limited company must complete a P35, including the service company question, and submit it by 19 May.
Contracting limited companies: top questions contractors ask their accountants
Answers to the most common questions contractors ask their accountants are explored by Derek Kelly of contractor accountant ClearSky.
Contractor guide to income protection based on contract rate alone
Contractors can benefit from income protection based on their gross contract rate rather than just salary, says Tony Harris of ContractorFinancials.
Contractor guide to how online accountants manage tax and company year-ends
Contractors need no longer complete numerous forms, as online accountants largely automate end of tax and company year processes, says Carl Danvers.
Privilege Accounts launched by contracting industry experts Roback and Stanton
Contractors “who don’t want to be part of a production line” have a greater choice of contractor accountant after the launch of Privilege Accounts.
Contracting company profits - tax issues when investing cash surpluses
Contractors with cash in their businesses may be considering company investments. Expert financial advice is vital, says Baker Watkin’s James Abbott.
Salary versus dividends – limited companies advice
Contractors can tax efficiently extract earnings from their contractor limited companies by paying themselves a low salary and the rest as dividends.
Illegal dividends explained – what are they?
Baker Watkin’s James Abbott explains why contractors must ensure they record profit calculations & the correct paperwork to avoid illegal dividends.
Online accountants now offer contractors a genuine choice for professional services
Contractors seeking alternatives to expensive meetings with pinstriped professional advisers now have a genuine choice, says Crunch’s Darren Fell.
Closing down your contracting limited company
Discusses the steps to close down your limited company
Contractors and the Data Protection Act (DPA) – what they need to know
The Data Protection Act (DPA) potentially impacts every UK business, including contractor limited companies.
Dividend income split between husband and wife unsuccessfully challenged by HMRC
Husband and wife contractor limited companies remain at risk of extra tax bills from Section S660, but HMRC has been unsuccessful in a recent ruling.
Contractor guide to charging VAT to overseas, non-UK clients
For most contractors whether or not they should charge VAT for overseas non-UK business clients is straightforward, explains Steve Crouch from Crunch.
Contractors who take long breaks between contracts should be aware of likely pitfalls
For many limited company contractors, taking long breaks is part of their reason for contracting, but James Abbott warns there can be pitfalls.
Contractor guide to splitting dividends
Splitting dividends with a spouse to maximise contracting income used to be the norm, but the Arctic Systems case changed the rules, says David Colom.
Online contractor accountant services: why they aren’t simply web-based spreadsheets
Crunch MD Darren Fell explains how online accountants are innovating and adapting to meet head-on the concerns and increasing needs of contractors.
How to set up and incorporate a contractor limited company online
Contractors choosing a limited company as their trading option can quickly and cost effectively incorporate online, using a range of options.
Tax issues for contractors who save large sums of money in their limited companies
Baker Watkins’ James Abbott explains why building up a large cash balance in a contractor limited company can end up costing contractors more tax.
Contractor guide to completing a statement of capital
What is a statement of capital and how should they be completed by limited company contactors?
What contractors need to know about investing through their contractor ltd company
Contractors can build up large sums in their limited company, but James Abbott of Baker Watkin warns that investing this cash can mean higher taxes.
Contractor guide to new model articles of association
As part of the changes introduced by the Companies Act 2006, limited company contractors should consider updating their articles of association.
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