Pensions remain one of the last remaining significant tax breaks available to contractors, freelancers and business owners. And with the sweeping changes to the flexibility surrounding how you access your pension, there has never been a better time to invest. There are a variety of pensions for directors of limited company and contractors available.
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pension
Pension auto-enrolment obligates companies to automatically enrol employees in a pension scheme unless workers decide to ‘opt-out’. As a result, all company owners should make themselves aware of pension auto-enrolment and how it will affect them when hiring employees.
Whether you are self-employed or are running a business on the side, you will have a personal tax account which you should be checking. However, research finds that nearly half of UK workers don’t check their account.
Here are some tax and finance tips which could help you save money as a limited company owner, based on our experience of running limited companies, and dealing with accountants and tax advisors over the past 15 years.
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Chancellor of the Exchequer Philip Hammond stayed away from big bold giveaways in his Autumn statement, but the Budget contained plenty for businesses to digest.
HR is an important part of a business, whether you have an entire department looking after the HR of your business or just one person. It’s vital that a small business has an HR professional on board. However even when businesses have dedicated professionals to manage their HR, mistakes are still made that can be avoided. In the worst case scenario, HR mistakes can lead to a court case, with huge legal fines that can be detrimental to a business.
The investment in the small business sector has fallen, according to the latest Federation of Small Business (FSB) research. The number of small businesses that are planning to invest in the future of their business in the upcoming months, has decreased. This decrease hitting an 18-month high.
When you’re caught up in the day-to-day pressure of running a business it can be hard to focus on your longer-term retirement planning. By investing a little time to review the fees being charged on retirement and investment plans many business owners could retire earlier. Hannah Goldsmith from Goldsmith Financial Solutions explains how this is possible.
A leading accountancy firm has published some simple tax planning ideas to help small business owners and contractors reduce their tax liabilities in future years.
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One of the most significant changes announced by the Chancellor in his 2012 Autumn Statement was a cut in the tax-free pensions contribution limits from the 2014/15 tax year onwards. How will this affect contractors and consultants?
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