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Can you claim your Christmas party as a business expense?

2019-12-23T11:22:30+00:00By |

Christmas is a great time for celebrating and reflecting on your achievements over the last year. Contractors often ask us if they can claim the cost of a Christmas ‘do’ as an allowable business expense. The good news is that ‘Yes’, you can, but of course there are some criteria that must be met. If [...]

Thinking about changing your company car? Why waiting until 2020 could be a good idea

2019-09-10T11:53:08+01:00By |

If you’re a contractor who is thinking of purchasing an environmentally friendly company car through your limited company, due to the car benefit changes, you may be better off waiting until 2020 to do it.   Tax on company cars Instead of using their personal car and reclaiming the mileage allowance relief, some contractors choose [...]

What taxes do I need to pay as a contractor?

2019-05-14T09:50:16+01:00By |

Leaving the world of employment and stepping out on your own as an independent contractor is both exhilarating and terrifying.  One of the biggest challenges you’ll face initially is getting your head around what taxes you need to pay. We always recommend that contractors engage with an experienced contractor accountant (like ourselves for instance!) but [...]

What does a limited company accountant cost?

2019-03-25T12:05:05+00:00By |

Being a director of a limited company, comes with additional responsibilities, like filing paperwork and accounts with Companies House and HMRC by specific dates. Failure to do so can lead to you to being penalised. Finding the time to stay on top of this, alongside working can be stressful. That’s why most contractors decide to [...]

Making tax digital from April 2019

2019-03-25T11:56:03+00:00By |

With effect from 1st April 2019 HMRC requires that businesses for whom VAT returns are mandatory file their returns in line with the new Making Tax Digital (MTD) requirements. If your taxable turnover is greater than the VAT registration threshold of £85,000 then this will apply to you. This new regime from HMRC means that [...]