Listed are tax saving benefits you can claim when contracting through a limited company. The following UK tax tips will show you from which areas to claim a tax refund.
Save On Tax Through The Income Of Your Limited Company
As the director of your limited company you have more control of your company’s earnings and how to use them. Hence, look at the best way to split dividends and salaries to maximise on tax allowances. Help from a professional tax consultant in UK will help you better understand all policies and tax deductible advantages.
Related Post: New rules for Filing Tax Returns in the UK
Contribute Towards A Pension Fund And Save On Your Corporate Tax Payments
Talk to our financial consultants and learn how you can contribute towards a future pension fund and benefit from tax deductions in the UK. While your company contributes towards a pension fund, thus securing your future, your company also becomes eligible for certain tax allowances!
Lower VAT and Expenses To Save Through Your Limited Company
If you are registered for VAT, you can reclaim any VAT payments made when purchasing equipment or services towards your company. When you pay for all business expenses via your company, you become eligible for corporate tax deductions. Talk to us to better understand all benefits you can claim.
Claim A Tax Allowance When Contracting And Working From Home
If you are contracting and working from home, then you can claim back a sum of £4 a week. HMRC will ask no more questions.
Related Post: How to claim refunds for the current Tax Year
Have Your Christmas Party And Save On Corporate Tax
Did you know that you can plan office functions and claim up to around £150, per employee, for a year?
These are just a few of the corporate tax benefits available to contractors of limited companies. Get in touch with us and let us help you save your hard earned money!