Keeping the cash flowing through a contractor limited company
Cash is still very much king and the contractor without money in the bank can come unstuck. The key is keep the cash flowing in the right direction.
Contractor accounting: How to manage your company accounting
How can contractors manage their accounting for a contracting limited company and at what point should they call in the services of their accountant?
Checking annual accounts of your limited company when contracting
Contractors who work through their own limited company are required to prepare, check and submit annual accounts to Companies House for the business.
Processing your company payroll when contracting via a limited company
Maintaining a company payroll seems a mundane task but Phil Richards of Blevins Franks explains it is a vital statutory requirement for contractors.
Processing fees for fellow contractors should be avoided
Tempting though it might seem to help a friend in need, contractors should resist invoicing on behalf of fellow contractors, as it could backfire.
What contractors should know about the new companies act
The Companies Act of 2006 which is in the process of coming into force changes the way we have to run our limited companies. Here's how.
Choosing a company name
Choose something catchy and original but avoid using something too specific.
Declaring dividends: the paperwork - dividend counterfoils and company board minutes
There is little paperwork or reporting associated with dividend payments.
How contractors should run limited companies
There are a number of issues that contractors should be aware of in running their own limited companies.
Contractor demand for limited companies is stable with more confidence
Demand for limited companies has stabilised since the dramatic increase due to managed service company legislation, contractors who start these companies are more confident, according to company-formation specialist Duport
Working with foreign and offshore companies
Financial aspects to consider when dealing with companies outside of the UK.
Taking on your first employee - financial and legal issues
Consideration when deciding to expand your contracting business by taking on an employee.
Contractors have a new kind of company to use
You can share a limited company with other contractors and then work for it as self-employed. The Revenue has stated that, for the time being, these companies are not MSCs.
Contractors may find limited liability partnerships useful
A Limited Liability Partnership may have value for contractors. But a limited company is probably more useful.
Transferring company shares
Explains the processes for transferring company shares.
For contractors banking does not get easier
Price controls on small business banking accounts have been lifted by the Competition Commission. That means your bank account will probably cost you more in the coming year. And banking is not getting any easier either.
Contractors can run multiple businesses from one company
Contractors have every right to run as many businesses as they choose from their limited companies. They can also own other companies. But there are a few issues they should be aware of.
Contractors should choose limited companies if the fit is right
There is pressure in the industry on contractors to choose PAYE umbrellas for their businesses. Barry Roback of JSA shows that those for whom a limited company is a good fit should try one on.
Opening a company bank account
Advice and guidance for choosing and opening a company account.
Hiring a temporary resource – option and issues to consider
Options and issues to consider when deciding to hire a temporary resource.
When contractors need to change accountants
An accountant is a trusted business partner, but when you feel you need to change accountants, the process can be handled without excessive strife.
Sub contracting work: tax and accounting issues
If you decide to sub contract work then there will be tax and accounting issues to consider.
Contractors must choose advisors carefully
Under the legislation that regulates managed service companies, working with advisors can be touchy.
Could the personal service company be next for contractors?
The personal service company could be the next target of the Treasury.
Contractors get qualified accountants from PCG
The Professional Contractors Group accredits accountants who are specially trained to help contractors. It is a precious resource.
Should contractors with limited companies take salaries?
Contractors are wise to take some salary in the interest of avoiding the attentions of the Revenue.
Splitting dividends to maximise net income
Splitting company dividends can be an effective way of maximising net income. We discuss the topic and Section 660 issues.
Making tax efficient use of excess company profits
Discusses the tax effective options and issues for utilising excess company profits?
Preparing dividend counterfoils and company board minutes when declaring dividends
Explains how to issue the essential documents required when declaring dividends.
Using company money to start another unrelated business
Are you considering starting another unrelated business within your current limited company structure? The article explains the issues.