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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

Limited company contractors with contracts inside and outside IR35
Having contracts both inside and outside need not be complicated for you to deal with.
…An occupational hazard of contracting is that some contractors find themselves working… …ctors find themselves working on a combination of contracts both inside and outside of the IR35 tax legislati… …lations. “Contractors who have earned income on a contract that was within IR35 must calculate the deemed pa…
Category: Articles: Limited Companies | Wed, 02 Dec 2009

Extracting profits tax efficiently from a limited company
Contractors can choose from a range of strategies to extract profits tax efficiently from their limited company, explains Abbott Moore’s James Abbott.
…– if they are not doing so, they should move to a contract that is outside IR35 Decide on a suitable salary…
Category: Articles: Limited Companies | Wed, 30 Jul 2014

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.
…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 to protect your business bank account savings with FSCS
Contractors qualify as small businesses under Financial Services Compensation Scheme rules so business bank account cash up to £85,000 is protected.
…ing sums to cover ‘holiday pay’ and spells out of contract, contractors can very quickly accumulate large ca…
Category: Articles: Limited Companies | Wed, 20 Jan 2016

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).
…rs traditionally applied ESC C16 and closed their contracting business because of retirement or securing long-t…
Category: Articles: Limited Companies | Sun, 01 Apr 2012

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.
…tors may require. Using an accountant to set up a contracting business is more expensive, but can include items…
Category: Articles: Limited Companies | Fri, 04 May 2012

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
…ct the service that best suits the needs of their contracting business. Online contractor accountancy providers…
Category: Articles: Limited Companies | Sun, 13 May 2012

Contracting businesses: growth and exit strategies for contractors
Contractors seeking to grow and exit their contracting business need to plan and implement a strategy.
…when to ask for help. Chances are you’ve already contracted in a team like this at some point in your contrac… …you are seeking to grow and ultimately exit your contracting business, you need to create a strategy that will…
Category: Articles: Limited Companies | Tue, 09 Oct 2012