Can you still bank a monthly amount?

integro Running Your Business

Provided that the company has made a profit during the month or has profits remaining from previous periods then yes, you can bank a monthly amount from your limited company. This is usually taken as a combination of salary and dividend payments. In order to be able to bank a monthly amount you will need to have the following in ...

Benefits of contracting

integro Starting Up

You are in essence your own boss when working as a contractor and with it that can bring many financial, lifestyle and career enhancing benefits. As a contractor you are able to take control and ownership of your career; shaping and guiding it in the way that you want, and making sure that the direction of travel is the one ...

Directors’ responsibilities

integro Running Your Business

Directors of limited companies have several broad categories of general duties that they are legally bound to carry out and these are laid out in The Companies Act 2006. Integro Accounting can provide considerable guidance in this area, helping you to make sure that you always meet your directors’ duties. It is, however, important to realise that whilst a good ...

Should I use a specialist accountant?

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In short, yes, using a specialist accountant is by far the best approach. Here are some reasons as to why we believe that to be the case: A specialist accountant will have experience in some very specific areas that are relevant to your situation as a contractor, consultant or freelancer. A generalist accountant will ordinarily bill by the minute for ...

FAQs

integro Business Expenses

Why work through a limited company? Working through a limited company brings with it great flexibility in the way that you work and more often than not, significant tax efficiencies over other options such as umbrella solutions. More information to help you answer this question can be found at: To take the limited company route or not…. Can I still ...

Expenses – what a contractor can claim through their limited company

integro Business Expenses

Claiming expenses through a limited company is a worthwhile thing to do. The expense reduces the profit that you make and in so doing reduces the amount that is subjected to corporation tax. By putting your expenses through the company you are therefore reducing your company’s corporation tax bill. It is, however, essential to remember that as owner of the ...

How can you set up your limited company?

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Ultimately, all UK limited company formations are processed through Companies House which keeps the official register of all companies in the UK. There are many providers of limited company formation services and the prices between the formation services vary greatly from one provider to another. Broadly speaking, there are three main routes that you can take to form your company: ...

Myths, legends and facts

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There are many stories out there that do the rounds, some of which are true, some of which have a bit of truth to them, and others that are complete false. Here’s a look at some of them: I’ve heard that I can only take dividends once or twice a year, is that true? No, if you are invoicing on ...

Setting up a limited company for the first time

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If you are looking to set up a company for the first time there are a few things to familiarise yourself with first: IR35 Have you considered IR35 and are you comfortable with what it is and how it relates to your personal situation. If you would like to read more about IR35 we have lots of information available here. ...