Contractors are faced with a potentially difficult decision when they start out. Determining whether you wish to operate your own limited company or use the services of an umbrella company is a decision that could have a significant impact on your working practices and administrative tasks for some time. As such, it is important that you make the right choice. To help you make your decision, answer the following seven questions: 1. Are you comfortable with paperwork? Running a limited ...

A Self Assessment bill can come as something of a shock. The idea of having to pay your entire year’s tax bill in one or two instalments is a daunting one, particularly if you are earning less than you did in the previous year. But, while self assessment taxpayers are at something of a disadvantage in one sense, they benefit from the ability to take extra steps to minimise their tax bill. There are a number of important ways that you can reduce the amount you have to pay each January. Some yo...

IR35 is one of the most important obstacles facing contractors. Originally designed to prevent ‘disguised employment’, whereby unscrupulous highly paid workers dodged their tax responsibilities, it has become a significant headache for legitimate Contractor or freelanser. If your contract falls within the auspices of IR35, you stand to lose as much as 25% of your take home pay. As such, the stakes are high. You should consider your IR35 position from the very first stages of contract negotiat...