Running your Company
Running your own limited company can seem daunting at the beginning however with help from a good specialist contractor accountant, you shouldn’t have anything to worry about. In this section James shares a number of guides on topics his clients tend to ask her about on a day to day basis.
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.firstname.lastname@example.org.
Can I do my own Accounts?
Preparing and submitting your own accounts can be easy – as long as you know what you’re doing! If not then there are plenty of accountants out there who can help and they don’t have to be expensive, you just need to ensure you find the right one for you.Read MORE
Thanks to recent changes, contractors are now able to partake in the new Tax Free Childcare scheme. This means that the government will top up a childcare account with 20% – so for every £8 paid in, you will receive an additional £2 for free.Read MORE
How to Write a Contractor CV
Selling yourself to potential clients is a vital part of securing contract work. It simply doesn’t matter how qualified and capable you are – if you can’t get through the door to interview, you’re never going to make it in the contractor marketplace.Read MORE
What is a Self Assessment Tax Return?
A self-assessment tax return is a summary of your personal income, capital gains, tax allowances and overall tax liability for the tax year. This runs from the 6th to the 5th of April the following year – regardless of your Limited Company year end, if you operate one.Read MORE
How to Pay Less Tax as a Contractor
Everybody is required to pay their taxes – there is no foolproof way to avoid your fair share, without the taxman eventually catching up with you and we certainly wouldn’t recommend it. However, there are many subtleties to the UK taxation system and we are of the opinion that nobody should pay more tax than they are required to.Read MORE
How to Take Money out of a Limited Company
So you’ve secured your first contract, raised your invoices and the money’s starting to roll in to your company bank account. Great! Now how do you get it out of there?Read MORE
Contracting through a Limited Company
The finer details of tax planning are what you hire an accountant for – you are not going to be the one sitting down with a calculator, to work out the optimum way to split your income, across your tax allowances. So what does running your own Limited Company actually involve for you?Read MORE
Offshore Tax Avoidance Schemes
Hearing you could take home 90-95% of your contract rate, can seem really appealing. Though in reality these are just tax avoidance schemes.
Did you know, if you are caught using one of these schemes, you will have to pay back all of the unpaid tax, as well as a very hefty fine!