Wages and Dividends for 2019-20

Here we outline the suggested combination of salary and dividends from your limited company to make best use of the tax rates and allowances. If you are looking at taking alternative combinations of salary and dividends, additional tax and NI will be due. Tax will be payable on all dividends in excess of £2k so […]

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IR35 Personal Service Companies

The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service companies and partnerships. The rules do not stop individuals selling their services through either their own personal companies or a partnership. However, they do seek to remove any possible tax advantages from doing […]

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Dividend Payments – Getting it Right

Used in conjunction with a salary at or just below the personal allowance level, the extraction of funds from the company using dividends still offers the most tax effective route to minimising your personal tax liability. […]

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Making Tax Digital !

You may have heard of this latest new initiative from HMRC sometimes referred to simply as MTD – here we look at what this is and how it will impact you and your business. […]

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Public Sector Contractors – all change from April 17!

Those who work in the public sector will be only too well aware of the additional scrutiny on the use of freelancers and how they operate their tax affairs. Over the last year, we have received calls from clients who have been asked to provide assurances about their IR35 status and tax affairs. Our advice […]

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IR35 Overview

What is it all about? This ruling by the Revenue attempts to capture tax lost whereby individuals have set themselves up as Limited Companies supplying services but in reality are performing a task for a client in a manner similar to being an employee. […]

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Upcoming IR35 changes for contractors

The recent Autumn statement confirmed some major changes to the way that IR35 will be applied, in particular to the public sector. Here we will remind you what IR35 is about, what is changing and why there is a fear that the new reforms will leave a critical skill shortage of contractors in this sector. […]

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High Income Benefit Charge

With effect from January 2013, those receiving child benefit and with net adjusted income of £50k or more will be taxed such that all the benefit is reduced to zero at £60k. […]

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