Article archive — page 5 of 7

Upcoming Changes to UK Non-Dom Tax Status

30 Apr 2024

We have a number of clients who are not originally from the UK. Back in 2005 when we started our business a significant proportion of our overall client base came from New Zealand,...

Self Employed Tax Return 2024: A Guide

22 Apr 2024

We are finding an increasing number of new clients joining our accounting service as self-employed (as an alternative to working through their own limited company), so todays blog ...

Contractors vs Employees: Who Pays More Tax?

15 Apr 2024

In today’s blog post, I investigate an intriguing comparison: how the tax burden for contractors has evolved over the last 21 years and how it stacks up against the taxes paid by f...

Maximising Tax Savings with an Accountant

08 Apr 2024

Looking at ways to maximize your tax savings? Maximizing tax savings with a contractor accountant might be your key. This article reveals how tailored advice from a tax specialist ...

National Insurance Number 101 for Freelancers

26 Mar 2024

Need to apply for or find your National Insurance number (NINO)? Whether you’re a freelancer, a new employee, or a recent UK resident, your NINO is key for employment, taxes, and a...

Employee to Contractor: Key Differences

13 Mar 2024

For a lot of our new contractor clients the switch from being an employee to a contractor can seem daunting and overwhelming. There are so many balls to juggle, and it’s a complete...

2024 Spring Budget Updates

07 Mar 2024

Today the Spring Budget 2024 speech was delivered by Chancellor Jeremy Hunt. Here we delve into the heart of the 2024 Spring Budget and what it means for you. As professionals navi...

The 2024/25 Dividend Allowance Explained

26 Feb 2024

Today we look at the tax impact of taking dividends in the 2024/25 tax year. While the dividend allowance has again been reduced (from £1,000 in 2023/24 to £500 in 2024/25), the ta...

Guide to Registering as Self-Employed

19 Feb 2024

Although the vast majority of our clients still tend to be limited company contractors, we have certainly noticed an increase in new clients using our sole trader accounting servic...

What Is VAT? A Simple Guide

04 Feb 2024

This guide is intended for contractors and freelancers who want a basic understanding of VAT and how it works for their business. What we have found is many of our new clients who ...

Dormant Company: What to Tell Companies House

28 Jan 2024

There are times when our clients want to make their limited company dormant. This isn’t when they stop working through it for a few months, but rather they want to cease trading fo...

Maximising Tax Savings: A Contractor's Guide

21 Jan 2024

With the new year now behind us I thought January would be a good time to recap on the taxes that limited company contractors are liable for when working through their own limited ...

Tax Return Deadline: Avoid Penalties

08 Jan 2024

With the New Year celebrations now behind us, its time to start thinking about filing your personal tax return for the 2022/23 tax year. For those of you who have already done this...

Christmas Party as a Business Expense?

18 Dec 2023

This article is dedicated to all of the limited company contractors and freelancers who have left their Christmas tax planning to the last minute. It might be because they’re still...

Joy Pilot: Effortless Cloud Accounting

03 Dec 2023

As many of you will know, we have always developed our own accounting software for our clients to use. We initially did this because when we started our business in 2003, there was...

2023 Autumn budget update

26 Nov 2023

From the latest UK annual budget outlined in the Autumn Statement 2023, it is clear that the government is steering the economic ship towards a stable and growth-oriented trajector...

The Ultimate Guide to Umbrella Companies

19 Nov 2023

We have been providing our contractor accounting service for nearly 20 years and are well positioned to provide a detailed guide on using an umbrella service. This is not only beca...

Pension Contributions: A Contractor's Guide

12 Nov 2023

As a contractor, planning for your future and securing a comfortable retirement may seem like worlds away from the day-to-day blood, sweat and tears of working through your company...

Relevant Life Insurance for Contractors

05 Nov 2023

Imagine protecting your family’s financial future while also saving on taxes and offering yourself an attractive company benefit that avoids any benefit-in-kind tax charges. That’s...

If Your Client Won't Hire Outside IR35

29 Oct 2023

Surviving the IR35 landscape can feel like navigating a minefield for contractors, so today I have produced this guide that offers practical solutions and expert advice to help you...

2022/23 Dividend Tax: Two Worked Examples

23 Oct 2023

Today I wanted to take a look at two practical examples of how to complete a dividend tax calculation for income based on the 2022-23 tax year. The reason I wanted to do this is be...

Contractor Take-Home Pay Calculators

16 Oct 2023

Today I want to look at the two contractor tax calculators that we have on our website (actually we have three and I’ll quickly touch on our corporation tax calculator later). The ...

Contractor Tax Calculator Example in 2023

08 Oct 2023

Today we’re going to consider the case of a contractor who is working in the UK and is wanting to consider the tax effects of working as a sole trader, through a limited company, a...

Sole Trader: Advantages and Disadvantages

01 Oct 2023

Today we look at sole traders. Because a lot of our contractor clients get their work through recruitment firms the use of the sole trader structure is not all that common. We’ll e...