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.thorpe@dolanaccountancy.com.

The pages

Should I set up a Limited Company?

Being a sole trader is the most common way to operate a fledgling business. However, as a freelance business grows, it’s likely you’ll be better-served setting up a Limited company. This quick guide gives a run-down of the benefits of doing so.

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Limited and Umbrella Take Home Pay

Operating through an Umbrella company or as Director of your own Limited company is one of the first choices any professional contractor will make. This article will focus on what you can expect out of your take-home pay between the two options.

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Switching Accountants

There are a lot of accountancy firms out there – some more suitable for contractors than others. Although it can seem like a big step, switching needn’t be a tricky process. If any of the below apply, it might be worth looking to make the switch!

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Contractor Guide to Dividends

Dividends are one of two ways you can pay yourself through your Limited company – the other being through the company payroll, under PAYE. Dividends are essentially a portion of the company’s profit that’s paid to shareholders – that is, yourself – after tax.

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Business Bank Accounts

Once you have formed you’re limited company, the next step is to setup a business bank account, so you can be paid for the work you carry out.

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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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Choosing a Contractor Accountant

When contracting through your own Limited company, it can seem like a daunting task to choose your accountant – there are hundreds out there, so how do you choose the best one for you?

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Working inside IR35

Worried about your IR35 status? Our handy print-out checklist will help you review your contract at-a-glance. Tick off the boxes and count them up at the end.

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