Working as a limited company contractor has a lot of advantages, but it does mean you're responsible for plenty of running costs. Fortunately, there are tax relief and allowances that can help you maximise your take home pay, as well as different expenses you can claim. But negotiating the HMRC labyrinth can be complicated, and it's easy to get confused over what you can and can’t claim. Here's our very brief guide to claiming expenses.
In April 2021 we'll see the implementation of off-payroll working in the private sector, a considerable number of contractors who currently choose to work through their limited company (PSC) may have that choice removed from them. Those likely to be affected have found themselves in unfamiliar territory in trying to choose an Umbrella Company
Martin Whalley - an IT professional with 30 years’ experience, had been working through his own limited company for the past six years. However the introduction of the off-payroll working legislation in the public sector in April 2017, meant that he had to make the move to an umbrella service as he found himself working inside IR35. We caught up with him to find out how this transition went
As the end of the tax year approaches there are various rules, rates and allowances in place which if used effectively can ensure you are working in the most tax efficient way. This is why we have created a Year End Tax Guide which covers the following topics from personal allowances and reliefs through to penalties and upcoming charges.