Payments on Account for Limited Company Contractor Question, I am a limited company contractor and take salary and dividends to the higher tax band and have no other income. I believe with the dividend changes that came in for 16-17 I will have to make payments on account as part of my 16-17 personal tax… Read More

On Wednesday 8th March 2017 the chancellor of the exchequer Philip Hammond delivered what is set to be the last Spring budget – from now on the budget will be an annual event held in the Autumn. In this article, we cover the key changes from the budget that affect contractors, freelancers and small business… Read More

Making Tax Digital There has been much talk in the press recently of upcoming changes to the way businesses and individuals are going to need to report details of their tax affairs to HMRC, this is called ‘making tax digital’. Below is a brief guide of what we currently know about HMRC’s plans to implement… Read More

HMRC – scanned electronic receipts and paperwork Question: “I run a small limited company and I have a lot of paperwork filed for invoices and receipts. If I keep electronic copies of this paperwork can I get rid of the originals? Do HMRC have any rules on this?”     Answer, Jan 2017 It used… Read More

Optimum limited company director salary and dividends 2017/18 If you operate through your own UK limited company you’ll often want to use the optimum tax planning strategy of extracting money from your company through a combination of dividends and a low salary. This article outlines the most tax efficient salary and dividend structure for the… Read More