Contractors publishing their owns books – tax and accounting issues
Contractors self-publishing promotional books shouldn’t publish through their company unless profits will be large, says Abbott Moore’s James Abbott.
Limited company contractors will gain little from EU micro-entity accounting changes
Limited company contractors will gain few benefits from adopting new EU accounting requirements introduced in 2015, says Abbott Moore’s James Abbott.
Real time information (RTI) annual scheme from HMRC for limited company contractors
Limited company contractors can pay themselves on an annual basis following HMRC’s introduction of a real time information (RTI) annual scheme fix.
Contractors, directors’ loan accounts and borrowing company money
Contractors usually have no need for a director’s loan, but for those that do, there are strict rules and pitfalls, says Abbott Moore’s James Abbott.
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.
Limited company contractor numbers may be higher than previously thought: BIS survey
There may be more limited company contractors than anyone thought, with BIS confirming there are over 800,000 limited companies with no employees.
‘Price match guarantee’ for contractor accounting fees to increase price transparency
ClearSky launches a new ‘price match guarantee’ designed to improve price transparency and value for contractors.
Tax efficient distribution of contractor funds using members’ voluntary liquidation
Contractors closing a limited company with cash in excess of £50,000 can use a members’ voluntary liquidation (MVL) to extract funds tax efficiently.
Contracting businesses: growth and exit strategies for contractors
Contractors seeking to grow and exit their contracting business need to plan and implement a strategy.
Contractor guide to HMRC’s Real Time Information (RTI) operation of PAYE
Salaried contractors must submit PAYE data to HMRC from April 2013 as part of HMRC’s Real Time Information system. James Abbott explains the process.
Contractor guide to the tax treatment of child benefit and the January 2013 changes
Contractors earning over £50k with children can take action to avoid losing child benefit & a marginal rate of 54%, says James Abbott of Abbott Moore.
Choosing an online contractor accountant or accountancy software – checklist download
Contractors can choose the online contractor accountant or accountancy software that suits the needs of their contracting business using this free che
Contractor limited company formation versus set up and preparing for trade
Contractors wishing to use a limited company can choose between a basic formation service or an existing entity that’s registered and ready to trade.
Making personal and company charitable donations and sponsorships
Contractors may qualify for tax relief on charitable donations, although the rules on sponsorship can be complex, says Abbott Moore’s James Abbott.
Contractor guide to Section 1030A distributions (ESC C16) closing a limited company
Contractors can extract cash tax efficiently as capital when closing their limited companies, by using Section1030A distributions (formerly ESC C16).
Why you need an accountant and not just accounting software
The value your accountant can provide to your contracting and freelance business goes far beyond what an accounting software package can offer.
Can the public sector bear the cost of abolishing limited company contractors?
Government abolition of limited company contractors would cost it up to 20% more per worker and force key talent out of the public sector.
Making your contracting limited company dormant
How to make a limited company dormant and the responsibilities whilst it is dormant.
Contracting and claiming statutory sick pay (SSP) for limited company contractors
Contractors can claim statutory sick pay (SSP) from their limited company if taking time off due to illness, explains James Abbott of Abbott Moore.
Contractor ESC C16 options for tax efficient limited company closure by 1 March 2012
Contractors have time to close their contracting business tax efficiently using ESC C16 before new rules and a £25k cap come into force on 1 March.
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.
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. 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 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 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
Working through your own limited company means you must complete a P35, including the service company question.
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 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.