This is an information-packed resource for contractors, freelancers, and interim professionals in all sorts of industries.
This includes IT, engineering, management consultancy, oil and gas, law, finance, and other industry sectors.
Expenses Guides
Can I claim for entertaining?
Introduction -business entertainment expenses As a business owner, can I claim for business entertainment when I am entertaining clients as a business expense? For instance, when you are out and about providing business entertainment that is related to your work? Well, there may be times when you are running your own company that you would like to drum up some new business with former, current, or potential new clients. Indeed, this can, in itself, be an excellent way to generate new work for your business. On these occasions, you may not know what you can claim from your company. My article will go over this and explain how the rules work and what you might like to think about ...
Claim for professional subscriptions
Introduction Professional subscriptions are often commonplace if you work in a professional industry. First ...
Claim for phone and broadband costs
Introduction When you run your own company, there is a tax-efficient way to claim for ...
Business gifts, what can you claim?
IntroductionCan I claim for business gifts as a business expense and are business gifts tax deductible? ...
Your own business website
Introduction When you set up your own company or, you have been running your own ...
Tax Saving Guides
The UK Marriage Allowance Transfer
Introduction -Marriage Allowance UK Have you ever wondered if you can claim for the Marriage Tax Allowance UK or, in other words, the UK Marriage Allowance Transfer? On the other hand, have you never been aware that this exists or you did not know how this works? The transfer is worth up to £250 to you per year. Although this is not a lot, it may be worth doing in the case of some couples. Two separate articles which explain how your personal tax position can be affected in the UK are the UK child benefit tax charge and the student loan ...
Relevant Life Insurance for contractors
Introduction Relevant Life Insurance policies provide life cover to ...
The annual dividend allowance
Introduction The annual dividend allowance was brought out in ...
Maximise your basic rate tax band
Introduction When you run your own UK company, how can ...
Business expenses you can claim
Introduction When you set up your company for the first time ...
Financials
Income protection insurance for contractors
What is Income Protection insurance for contractors? Income Protection is a key policy to think about as a contractor who is running his or her own company. It makes sure that you do not have to dip into your savings if you are not able to work. What’s more, when you work for yourself, you do not have a safety net. By this, I mean in terms of sick pay or financial support from an employer. Income Protection is, in effect, sick pay for Contractors. It enables you to meet your mortgage payments, bills, and lifestyle needs. There may ...
Relevant Life Insurance for contractors
Introduction Relevant Life Insurance policies provide life cover to ...
Professional Indemnity Insurance
Introduction Professional indemnity insurance is a key policy to ...
Contractor mortgages
Introduction If you are working as a contractor and running ...
Critical Illness Insurance
Introduction Critical Illness Insurance cover is a long term ...
Other Guides
A loan to a director or shareholder
Introduction -what is a director’s loan?When you are a director of your company, there may be a need for you to loan the company some funds. Alternatively, if the need arises, you may decide to borrow some funds from your company. This balance between you and the company will become a director loan account.In both cases, where you are the sole director of your own company there is no need for a written director loan agreement. However if you are part of a company with more than one director, an agreement may need putting in place as there are other ...
Company bank account -the basics
Introduction When you start your own company for the first time, ...
The Confirmation Statement
Introduction -The Confirmation Statement for Companies House Have you ever heard ...
Electric and hybrid cars
Introduction Today, electric and hybrid cars are fairly new on the ...
How can you change your accountant?
Introduction As a contractor, how can you change your small business ...
Some Key Articles
A loan to a director or shareholder
Introduction -what is a director’s loan?When you ...
A good accountant for contractors
Introduction -contractor accountant / small business ...
Personal Incidental Expenses
Introduction -Personal Incidental Expenses Personal Incidental ...
Trivial Benefits, what are they?
Introduction Trivial benefits are an exemption ...
The Christmas party
Introduction If you have your own ...
Why Contractor Advice?
UK business owners come to the site to educate themselves on a wide number of areas. As well as general accounting advice there are also many tips on how to become tax-efficient and save money when running your own UK business.
