Insurances that a Contractor should have 

There are three main types of insurance that a Contractor should consider: Public liability insurance This covers physical damage or harm done by the contractor whilst representing their business. This is a legal requirement – and contracts generally require £5m...

When should I hire an accountant for my new business?

Speaking to an accountant when setting up your business is key to going forward. You should speak to an accountant when setting up your business to make sure you choose the best structure. In any event you should at least meet one as soon as you’ve decided on your...

Should I set up as a Sole Trader for my new business?

Not necessarily, a Limited Company can result in you paying less tax. AND while a Company owner might lose their business – a Sole Trader (self-employed) can lose personal assets as well! If profits are below about £12,000, acting as a Sole Trader makes very...

Tax free income

Over the last year or two, and partly to remove some taxpayers from the Tax Return system (because they cost more for HMRC to administer than they pay in tax), certain types of income are not taxable up to a certain level.  So I thought it would be a good time to list...