One of the differences between being paid by an employer and running your own business is having to sort out your own pay. You can do this by taking a salary from your limited company - in the same way as a regular employee. Here are the benefits of taking a high or a low salary, without the jargon.
Business mileage is an important – but often overlooked – expense for freelancers and contractors. In short, this is good news for you and your company.
The Conservatives' 'National Living Wage' is not the same as the one proposed by the Living Wage Foundation. We look at the differences.
We explain the tax rates that apply for the 2020/21 tax year, affecting income taxpayers resident in Scotland and how to see if you're affected.
A handy side-effect of the entrepreneurial zeal sweeping the country is that there are now many schemes in place specifically to help small businesses.
Contractors registered under the Construction Industry Scheme (CIS) are required to deduct tax from their payments to subcontractors. These deductions are paid by the contractor to HMRC as an advance towards the subcontractor’s tax liabilities.
To claim tax relief on your mobile phone or landline expenses, a contract needs to be set up between your limited company and the service provider.