Blogs

Pensions for the self-employed

Saving pension often can be difficult for a self-employed compared to an employed person. There is no one who can choose pension scheme for you, no employer contributions and irregular income patterns which can all make savings difficult. The earlier...


How much tax should I pay as a contractor?

Here, we are talking about tax year 2019/20. It totally depends on whether you are operating as a limited company or working through an Umbrella company. When you start contracting via your own company you will be liable for a number of business taxe...


Do I Qualify For Entrepreneur’s Relief?

Entrepreneurs relief means you’ll pay tax at 10% on all gains on qualifying assets. It reduces the amount of Capital gains Tax (CGT) payable when you dispose of shares in all or part of your business or liquidate your company. If you are selling a...


Can Contractors Claim For Meal Allowance?

If you work through your own limited company, this reduces the amount of tax your company pays. Since 2017, the corporation tax rate is 19% so the reduction is worthwhile. You can include every eligible business expenses in your annual accounts which...


National Minimum Wage

In an unknown farm located at an unnamed place, a farmer was planning to fence his big land which ran into acres. The farmer knew that the task was quite cumbersome and would require additional help, so he drafted an advertisement to hire three work...


Time-Saving Apps For Contractors

The history of humankind tells us that as the Homo sapiens began to spread and increase their numbers so also did their desire to simplify their ways of working. They realized many things, and among those moments of conscious awakenings, a sense had ...


Umbrella Companies- A New Business Force

What is an Umbrella Company? Putting it in simple words, the functional role of an umbrella company for contractors is that it acts as an employer for all the contractors under its folds and provides services of these contractors to the end clie...


How to Be a Successful Contractor in the UK?

Being a successful contractor requires the right attitude and flair for business. Nowadays, every business has a neck to neck competition, and the same is true of the companies that do anything on a contract basis. These contractors may be building c...


Mistakes Alert for Contractors

What Are The Mistakes Contractors Should Avoid? Many people are choosing to become contractors in some field or the other in today’s world of outsourcing. This is because most people don’t have the time or energy to take care of simple thing...


Complete Guide About Self-Assessment Tax Returns

The Need Of A Tax Return Have you ever given a thought to a lingering question which is very much there at the back of your mind, the self-asserting question, effacing itself and yet remains hidden and ...