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Advantages and disadvantages of contracting
Contracting offers skilled knowledge workers much more than the opportunity to substantially increase their earnings, although pay’s a major factor.
�Contracting can deliver skilled knowledge workers a huge rang� �ours and locations Holidays: When you are between contracts, you can choose to take as much or as little time� �you want more money, you can choose a better paid contract) Improved work/life balance: It is amazing how mu�
Category: Articles: First timers | Thu, 12 Oct 2017

Contractors rarely operate as sole traders
Contractors wanting to work as a sole trader will find agencies and clients won’t work with them. Here's why and the solution.
�d under PAYE schemes. In addition to all of this, contracting as a sole trader, even if it could be done, would� �qualified director for example – could still find contracts via an agency by joining an umbrella company or g� �. A sole trader contractor might attempt to win a contract with the client, but the client’s agreement with�
Category: Articles: First timers | Wed, 19 Sept 2018

Dividends and contracting: calculation, payment and taxation
You may take dividends from your limited company whenever you are certain that there are after-tax profits to be divided up. Here's how you calculate them.
�best form of payment for contractors? If you are contracting and running a limited company , the most advantag� �ments? If you believe your revenue is earned from contracts that are inside IR35 , then you must not take div�
Category: Articles: Limited Companies | Thu, 15 Mar 2018

Contractor guide to dividends and dividend tax credits
Contractors pay themselves via a combination of low salary and dividends, but calculating how much income tax to pay on dividends can be complicated.
�into the company or, as is usually the case with contracting businesses, declared as a dividend and distribute�
Category: Articles: Limited Companies | Thu, 03 Apr 2014

How to close your company and extract the profits – paying only 10% tax
Considering closing down your limited company? Securing a Members’ Voluntary Liquidation may be the most efficient way to extract funds. Find out how.
�out how much you could save with an MVL With the contracting sector in a state of flux over the IR35 reforms,� �s possible. Our chosen partner specialises in the contract sector, and can ensure you have access to the ret�
Category: Articles: Limited Companies | Sun, 30 Jan 2022

11 tips for choosing the best contractor accountant
Once you've decided to trade using your own limited company, then choosing a contractor accountant is the next step.
�best trading option for the current stage of your contracting career is a limited company, then choosing a spec� �don't pay tax twice. Some accountants also offer contract reviews, but contractors should ideally consult a�
Category: Articles: Limited Companies | Wed, 22 Nov 2023

Valid expenses as a contractor - what you can claim
We describe in detail what expenses are allowed to be claimed when you are contracting.
�ses you can claim is longer if you are working on contracts which are outside the scope of IR35. What are val� �ses outside of IR35? The expenses allowable for a contract not caught by IR35 would be as follows: The amoun�
Category: Articles: Expenses | Wed, 23 Nov 2005

10 facts you need to know about company dividends
Ltd company contractors find that sharing profits through dividends is more tax-efficient. Here’s everything you need to know about company dividends.
�Contractors mostly run their contracting business through their own limited companies , wh�
Category: Articles: Limited Companies | Wed, 27 Apr 2016

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