Top 5 accounting tips to save your business time and money.

05 – Go Green Reducing the amount of paper your business uses printing invoices, statements and other documentation will not only save you time and money, it will reduce your carbon footprint on the earth. This is a win-win situation. … Read More

Company Confirmation Statements — What You Need To Do, Including Identifying Persons With Significant Control

Anyone who’s ever been a director of a limited company should be aware of the need to submit an Annual Return to Companies House each year. Since 30th June 2016, that document has been replaced by a Confirmation Statement that … Read More

Self Assessment — What You Need to Know and How You Can Make the January 31 Deadline if You Start Today

It’s that time of year again when the deadline for submitting your tax return is fast approaching. In fact, if you’re still persisting with a paper return, the deadline has already passed. For those of you submitting online, however, there’s … Read More

Recovering Bad Debts

Recovering Bad Debts No matter how good your credit control procedures are at limiting the risk of bad debts, some debtors will inevitably fail to pay. When this happens, you must choose your course of action to recover the debt. … Read More

Business Expenses — Tax Deductible or Not?

Business Expenses — Tax Deductible or Not? As an independent contractor, you should aim to maximise your earnings after tax. That’s achieved by a combination of a high level of income, being tax-efficient and recharging all allowable expenses. The value … Read More

Changing Your Accountant

Changing Your Accountant Accountants are like bank accounts in that people change them rarely and reluctantly. However, there often comes a time when change is advisable or may even be inevitable. Achieving the Right Service Having a good accountant is … Read More

Be Prepared and Reduce Your Tax Bill

Be Prepared and Reduce Your Tax Bill We’ve not all been Boy Scouts but their motto of ‘be prepared’ applies to everyone, particularly when completing your self assessment tax return. Since the aim of most contractors is to be tax-efficient, … Read More

HOW TO: Paying Limited Company Dividends

Paying Limited Company Dividends There are various reasons for setting up a limited company but, as an independent contractor, the main one is generally that it’s the most tax-efficient way to operate. By adopting a low salary/high dividend strategy for … Read More

Choosing a Contractor Accountant

Choosing a Contractor Accountant Most people become contractors because it gives them greater flexibility, increases their earning potential and allows them to be more tax-efficient. They generally don’t do it to undertake additional administration and accountancy tasks. So getting a … Read More

Using a Personal Service Company (PSC) – Useful Tips for Contractors

Using a Personal Service Company Personal service companies are popular for contractors since they are considered to be a very tax-efficient way in which to operate. However, they’re viewed with suspicion by HM Revenue and Customs, which believes most are … Read More