Ltd Company

How to borrow money from your Limited Company and the associated tax risks
Blog
You may find that from time to time you’ll need to borrow money from your Limited Company, so how do you go about doing so, what are the risks and is there anything you need to be aware of? In this blog we explore all that, to help you understand the process and associated risks before taking money from your company. How does it work? Regardless of the loan period or amount being borrowed, the [...]
A freelancer and contractor’s guide to tax planning for 2022/23
Blog
Tax planning for 2022/23 To get the most from a Limited Company, it’s worth looking ahead to the coming year and planning accordingly. But what does this mean for contractors, and what do you need to look out for? In this blog, we provide advice on how to draw money from a Company as tax-efficiently as possible. The three ways to be tax-efficient in 2022/23 1. Use the optimum salary levels for the 2022/23 tax year [...]
The Spring Statement 2022 – what it holds for freelancers and contractors
Blog
In this blog our MD, Daniel Mepham, shares his thoughts from the March 2022 Spring Statement. A much anticipated Spring Statement was delivered on March 23rd by Chancellor, Rishi Sunak against a backdrop of war in Ukraine, post pandemic super spending and an ever increasing rate of inflation. With that in mind I was expecting some headline grabbing announcements. I’ve highlighted below some of the key points, but if you want to see the full [...]
A Limited Company Contractor’s year-end tax checklist
Blog
The current tax year ends 5 April 2022, so now is the time to take stock of any unused allowances in order to reduce your tax bill. In this blog we explore the top ten things to consider to ensure your Limited Company is working as hard as it possibly can. Use your £20,000 ISA allowance If you’re married or have a partner, ensure they’ve also used their £20,000 ISA allowance If you have any [...]
How much tax can you expect to pay with an electric car?
Blog
Electric cars have never been so popular, and with the recently announced tax band changes now is the perfect time to consider purchasing one. So what are your options and are there any attractive tax benefits? In this blog we explore just that, to give you an idea of how much tax you can expect to pay. Company cars Purchasing a company car through your Limited Company was once an enviable perk, but over time [...]
The Budget October 2021
Blog
Autumn Budget 2021 The Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Main Budget proposals Tax measures include: a new temporary business rates relief in England for eligible retail, hospitality and leisure properties for 2022/23 a change in the earliest age from which most pension savers can access their pension savings without [...]
Treating yourself and staff to a summer social – what you can claim as a business expense
Blog
The sun is shining, almost everything is open again and it finally feels like summer, hooray! You’ve worked hard throughout the pandemic and now that we’re all allowed to socialise again, it’s a good time to get out and enjoy everything that’s available to you. So whether you’re contracting or freelancing alone or you have employees, you’re able to claim some of the cost from HMRC. But before you go ahead and order the champagne [...]
What tax will you pay if you’re freelancing on the side?
Blog
Whilst the COVID-19 pandemic has caused an unprecedented amount of economical upset across the world, for a few it has given them the opportunity to explore the world of freelancing and what it can offer in terms of a profitable side-gig to their normal 9-5. But how can you freelance freely without getting into trouble with the taxman? In this blog we show you what tax you can expect to pay when freelancing on the [...]
Your options when working inside IR35
Blog
April’s IR35 reform isn’t too far away, and now is a good time to start thinking about what you’d do if you were to be found inside IR35 and the possible impact this could have on your take home pay. In this blog we give you a general overview of your options and the facts. Option one – Work under an Umbrella company If you’re found inside IR35 your best option may be to work [...]
Should you say no to IR35 contracts?
Blog
April’s IR35 legislation changes aren’t too far away, and if you’re faced with a contract that’s inside IR35 what will you do? Will you reject it, challenge it, or take it? How do you know if that’s the right decision? In this blog we look at the different circumstances that might lead you to refuse an inside IR35 contract, and why you should always consult your decision with your contractor accountant. Each contract is unique [...]