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Relocation costs are your responsibility when contracting
If a contract obliges you to relocate, you need to account for the costs. You may deduct a large part of it all from tax, but that may still leave you with a hefty bill. Here's how to handle it.
…You've been offered a new contract, and it's a good one, with a good rate and the pr…
Category: Articles: Expenses | Tue, 15 Apr 2008

Contractor start up expenses that can be claimed
All the expenses you can incur on start up and what can be claimed.
…discussed the valid expenses you can claim whilst contracting . However, when you first form your own limited c… …duction and hosting fees. Legal Fees (perhaps for contract drafting or review). Equipment and Other Capital…
Category: Articles: Expenses | Fri, 13 Jun 2008

How contractors should process contracting expenses
Contractors who run their own limited company can use really simple systems to ensure they keep accurate, up-to-date expenses records for their tax and VAT accounting, as well as ensure they get to claim everything they can.
…own company and paying out of your own pocket for contracting expenses , especially cash expenses, it really pa…
Category: Articles: Expenses | Thu, 03 Jul 2008

What expenses can contractors claim for using a home office?
Contractors who spend time working in their offices at home can claim a proportion of the running costs of their home as legitimate business expenses, thereby saving money on their tax and personal outgoings.
…ge of your home that you use when working on your contracting business from home. With some contractors this co…
Category: Articles: Expenses | Mon, 14 Jul 2008

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

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

Contractors can recover unclaimed travel expenses from past contracts
If a contractor has failed to claim for past travel expenses, these can still be recovered under certain conditions.
…e within the so-called ‘24 month rule’, and which contracts were not covered. Any travel expenses would not b… …, even if they had been legitimately working on a contract for which the travel expenses were eligible. Temp…
Category: Articles: Expenses | Mon, 29 Sept 2008

Is it worth contractors buying a company car?
Even with efficient, low emission cars, most contractors are better off claiming private mileage, says Phil Richards of accountants Blevins Franks.
…to and from their client’s site and use their own contracting limited company have the option of buying a compa…
Category: Articles: Expenses | Tue, 27 Jan 2009

Temporary workplace rules for contractors
Contractors must comply with temporary workplace rules to qualify for travel and subsistence expenses plus tax deductions when travelling to clients.
…fixed term appointment rule – single, standalone contracts The fixed term appointment rule can potentially p… …company’s head office, working on a time-limited contract on the client’s site would appear to qualify as b…
Category: Articles: Expenses | Wed, 21 Aug 2013

Contractor guide to the tax treatment of loyalty schemes and benefits
Contractors can personally ‘spend’ loyalty points from business purchases without a benefit in kind tax charge, explains James Abbott of Abbott Moore.
…ints using a personal loyalty scheme account, the contract employee owns the points, not the employer, which…
Category: Articles: Expenses | Sun, 22 Apr 2012