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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.
�can also help contractors prove they are outside IR35 , as taking out policies indicates financial risk� �rtner, will.” 5. What happens when I am no longer contracting? Kelly warns contractors that running a limited c� �ice before making any serious decisions. 8. Is my contract IR35 friendly? A contract might be IR35 friendly�
Category: Articles: Limited Companies | Thu, 28 Apr 2011

How to close your company and extract the profits – paying only 10% tax
Considering closing down your limited company? Securing a Members’ Voluntary Liquidation may be the most efficient way to extract funds. Find out how.
�of the following reasons: They are caught inside IR35 and no longer wish to use a company vehicle They� �out how much you could save with an MVL With the contracting sector in a state of flux over the IR35 reforms,� �s possible. Our chosen partner specialises in the contract sector, and can ensure you have access to the ret�
Category: Articles: Limited Companies | Sun, 30 Jan 2022

Dormant company accounts – filing example
Contractors who have a dormant limited company must continue to file basic company information, including abbreviated accounts, with Companies House.
�ay be offered a lucrative contract that is inside IR35 and decides to trade via an umbrella company for� �quired by the Registrar of Companies. Making your contracting limited company dormant is a straightforward proc� �natively, a contractor may be offered a lucrative contract that is inside IR35 and decides to trade via an u�
Category: Articles: Limited Companies | Mon, 23 Feb 2015

How much salary should a contractor pay themselves as director?
Contractors often find the low salary-high dividends model to be the most tax efficient way to take remuneration, says Abbott Moore’s James Abbott.
�ax efficient compared to dividends.” Salaries and IR35 “In practice, contractors inside IR35 are forced� �ient method of extracting remuneration from their contracting business typically pay themselves a low salary an� �nclude: The contractor actually has an employment contract with their company, in which case they are subjec�
Category: Articles: Limited Companies | Wed, 22 May 2013

Contractor pensions - pension options and pensions advice for contractors
Explains away the jargon and points out the opportunities available to contractors who are looking to channel their hard earned income away from the tax man and into their own pocket.
�be up to as much as 48% for contractors caught by IR35. For example, with 48% tax relief it means for ea�
Category: Articles: Pensions | Mon, 09 Jan 2006

Pensions for contractors: an overview
Contractors can benefit from tax savings by investing in a pension early in their contracting career and a pension pot to draw on from age 55.
�nd this is true whether or not they are caught by IR35 . Contractors can invest money personally from th� �tart investing in a pension at the start of their contracting career, even if they feel themselves to be ‘too y� �man limited company/umbrella company, are between contracts or a permanent employee. Further, contractors wan�
Category: Articles: Pensions | Wed, 20 Jan 2010

Contractor Doctor: Can I contract directly with a customer of my former employer?
Contractors seeking to contract direct with a former employer’s customers should check their contract and seek advice, says Roger Sinclair of Egos.
�ully to ensure no new restrictions were included. IR35 implications Whilst the worker is still employed,� �er employer could not prevent the individual from contracting directly for their former employer’s customer.” R� �nt a solution. However Sinclair suggests that the contracts between the agency and the contractor’s limited c� �ving the company. However, there has never been a contract in place between the customer and my employer. Ca�
Category: Articles: Contractor Doctor Q+A | Wed, 19 Sept 2012

Contractor Doctor: Can my client refuse to allow already agreed time off?
Contractors don’t book holidays; they negotiate breaks in service provision or supply a substitute for time off that can’t be taken between contracts.
�lient , and could find themselves falling foul of IR35 . Plan time off in advance and get dates into the� �the contractor fails to deliver their services as contracted, then the contract terminates immediately. In thi� �ractors should take time off for holidays between contracts to ensure that they deliver their services accord� �ey deliver their services according to what their contract specifies. If this is not possible, then contract�
Category: Articles: Contractor Doctor Q+A | Mon, 07 Jan 2013

Contractor Doctor: My client has asked me to move location – do I have to relocate?
Contractors faced with a client request to change location must review their contract to consider available options, advises Roger Sinclair of Egos.
�ind a new contract? Document any changes to avoid IR35 dangers Whatever the outcome, Sinclair advises th� �identify potential outcomes.” Good luck with your contracting! Contractor Doctor� �city, the location I agreed to when I signed the contract, it means my commute is fairly straightforward an�
Category: Articles: Contractor Doctor Q+A | Thu, 01 Jul 2010

Oil and gas contractor guide to tax and expenses when working offshore
Oil and gas contractors working offshore are subject to similar tax and expenses rules as onshore contractors, notes Pipeline Account’s Martin Watt.
�tractors working offshore look at greater risk of IR35 . But when the core tests of control , substituti� �s contractors, so they should ensure they conduct contract reviews, secure a confirmation of arrangements fr�
Category: Articles: Tax Issues | Tue, 30 Jul 2013