Contractor Q&A – Can I use my personal bank account for my limited company?
Question: Can I use my personal bank account for my limited company?
Contractor Q&A January – Why must a contractor keep all receipts at their limited company’s registered address?
Question: Why must a contractor keep all receipts at their limited company’s registered address?
The Childcare Voucher Scheme and Tax-Free Childcare for limited company contractors
As a Director of a limited company you are able to claim a percentage of the costs of childcare as an expense through the government’s Childcare Voucher Scheme. The scheme allows you to claim up to £55 per week or £243 per month towards childcare costs incurred.
On the Road: Claiming Mileage through your Limited Company
One of the most popular and utilised expenses that Contractors running Limited Companies claim for is mileage. The basic rule being that mileage can be claimed back when you are travelling to and from a temporary place of work.
In the Know: Directors of Limited Companies filing Self Assessments
A Self-assessment form ultimately details the calculation of one’s own taxable liability, otherwise known as a Personal Tax Return. If you are a company director you are required by law to complete and submit a self-assessment annually to HMRC stating your income, capital gains and any tax allowances or reliefs, i.e. expenses.
Responsibilities of a director of a limited company
Running a Limited Company without an accountant’s help can be hard work To be a successful director of a Limited Company, you need to be king of organisation and have a competent level of accounting know-how to keep track of all the tasks involved in order to work within the Companies Act 2006.