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Backdating dividend payments to a previous tax year is asking for trouble
Proper tax planning negates the need to backdate dividends, which is illegal and attracts unwanted attention from HMRC, says Intouch’s Duncan Strike.
…s Whilst it is quite commonplace for directors of contracting companies to declare a dividend and leave the mon…
Category: Articles: Limited Companies | Thu, 02 Jun 2016

Contractor guide to calculating taxes payable on dividends
Explains how contractors can calculate tax payable on dividends received from their limited company updated for April 2016 after Dividend Tax changes.
…alary the most tax efficient method of extracting contracting earnings from their company. Dividend tax changes… …tract through their own limited company and whose contracts are outside IR35 will generally find taking a div… …Contractors who contract through their own limited company and whose contr…
Category: Articles: Limited Companies | Thu, 18 Aug 2016

Limited company or umbrella – how to choose the best payment option
Key differences explained. Learn the pros and cons of each payment option and decide which one is best for starting your contracting career.
…Payment structure options When you plan to start contracting you will need to set up a way to get paid. And as… …he third party umbrella company bank account. For contracts earning revenue outside IR35 there is a significa… …s not in any way influence the IR35 status of the contract or modus operandi of the working arrangements. Th…
Category: Articles: Limited Companies | Tue, 27 Sept 2016

10 questions to ask a specialist contractor accountant
You should ask these 10 questions to check whether an accountant is a contracting expert before signing up.
…You should check your potential accountant is a contracting expert prior to signing up to their services. Jam… …e. 6. Can you explain how expenses will work if I contract through my own limited company? Contractors are n…
Category: Articles: Limited Companies | Fri, 30 Sept 2016

Penalties incurred for late filing of forms
Running a limited company for contracting means you need to file certain forms each year, or else you could face sizeable penalties costing thousands.
…director of your own limited company to run your contracting means you are subject to company and tax law. If…
Category: Articles: Limited Companies | Thu, 15 Jun 2017

6 tips for choosing an accountant for your limited company
Decided to use a limited company for your contracting? Then you'll need a specialist accountant. Here are 6 tips on how to find and choose one.
…Have you decided to start contracting using a limited company? Then you will need to ge…
Category: Articles: Limited Companies | Wed, 04 Oct 2017

How to prepare an invoice - examples and templates
How to prepare an invoice. Examples and templates.
…choose an accounting firm who specialises in the contracting industry - see our 10 tips for choosing an accoun… …s could result in the client claiming a breach of contract . The first step is to speak to the client, befor…
Category: Articles: Limited Companies | Mon, 06 Nov 2017

Moving from a limited company to an umbrella: reasons and practicalities.
Had enough of running your limited company? Find out why some contractors prefer to use an umbrella.
…ract within that company. IR35 issues If all your contracts are caught by IR35 , then running a limited compa… …potential reasons why you would wish to move your contract/working arrangements from your own limited compan…
Category: Articles: Limited Companies | Thu, 07 Dec 2017

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.
…eived by the taxman as ‘systemic tax avoidance by contracting couples’, HMRC dusted off the little known Sectio… …ctors running their own limited company and whose contracts are outside IR35 have often maximised net income… …plus marketing, which might include searching for contract opportunities and running the company website. Jo…
Category: Articles: Limited Companies | Thu, 14 Dec 2017

Claiming contractor limited company start-up expenses
Contractors can claim all their limited company start-up expenses, but it is essential to keep accurate records to prove the expenses are legitimate.
…Contractors who are starting their contracting career and have just won their first contract, or… …erhaps for incorporating the company or preparing contracts or terms and conditions Marketing costs, such as… …contracting career and have just won their first contract, or existing contractors transferring from other…
Category: Articles: Limited Companies | Tue, 11 Aug 2009