A significant advantage of being a limited company contractor is the enhanced ability to claim tax relief on business expenses. Here we answer the question: “What expenses can a limited company contractor can claim?”
Last month saw the end of the Government’s formal consultation on proposed changes to off-payroll in the private sector. The changes are likely to have a significant impact on some limited company contractors when they come into effect in April 2020.
If anyone tells you to expect 80% or more of your income as take-home pay, treat it as the surest sign your Umbrella isn’t following the rules but is leaving you exposed. Chris James, Head of Accounting at JSA and Chair of the Freelancer and Contractor Services Association (FCSA), explains.