Contractor Tax

The old phrase ‘tax doesn’t have to be taxing’ is true, as long as you appoint a good accountant. As a contractor it is recommended you appoint a specialist contractor accountant, as they will have a more in-depth knowledge of contractor specific tax legislation.

In this section James will introduce you to the tax legislation that is likely to affect you and give you a basic understanding of what you need to be aware of. Don’t worry this is what you appoint Dolan Accountancy for!

If you would like to appoint Dolan Accountancy as your accountants, please visit our become a client page or if you have any questions about contracting please call us on 01442 795100 or email Jaime.thorpe@dolanaccountancy.com.

 

 

The pages

Contractor Pensions

Fortunately, you’re able to take advantage of tax breaks when saving for your pension as a contractor, so not only are you providing for yourself when you retire, you’re also keeping more of your hard-earned pay out of the hands of the taxman. This guide will give you all the information you need to start saving for your retirement.

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Contractor Tax

It’s said that there are only two certainties in life – death and taxes. And when it comes to tax, it can often seem like a minefield of complex rules, thresholds and deductions from your hard-earned cash.

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The Benefits of Contracting

The reasons they give us are different. One constant is the financial benefit – contract rates can easily double that of a permanent employee, and the tax advantages of operating through a Limited company mean that you’ll take home even more of that increased income. Carving out a career as a professional freelancer or contractor Read More...

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Moving from Permanent to Contracting

Leaving the security and comfort of a permanent job for contract work isn’t the easiest decision to make – change can be scary, and there are few bigger changes! Once you’ve made the leap, though, many contractors find it unthinkable to give up the variety of work, higher pay, ability to choose your own clients and flexible working patterns.

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Limited Company Expenses Guide

Business expenses are costs incurred “wholly, necessarily and exclusively” in the course of running your business. Claiming these costs means that no tax will be paid on the amount spent.

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Advantages and Disadvantages of Contracting

There are many reasons contractors choose to operate through a Limited company – however, it’s not for everyone. Before you take the plunge, you’ll want to be sure you’re making the right decision for your own personal circumstances. This guide will help you decide if a Limited company is the best option for you.

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A Contractor’s guide to VAT

VAT, or Value Added Tax, is an additional tax on anything you sell – both services and goods. It’s charged at a standard rate of 20% on top of your invoice values;.

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What is VAT?

Do I have to register for VAT? If your turnover exceeds £85,000, or you expect it to exceed £85,000 in the next 30 days, you must register for VAT. Once registered for VAT, you need to begin charging VAT on all goods and services you sell. This applies as soon as you register – you Read More...

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