Starting your contracting journey in the UK is exciting, but understanding contractor National Insurance is one of the first hurdles for limited company contractors. This guide explains how NI works, who needs to pay it, and how it affects your salary, dividends, and overall taxes. Whether you’re managing your finances yourself or working with a specialist accountant, knowing the rules helps you stay compliant and plan efficiently. Read on to discover everything you need to know about National Insurance for contractors and how it can impact your take-home pay and future state pension. Get in Touch   Table of Contents: Should I Pay National Insurance as a Limited Company Contractor? National Insurance Class 1 Explained How to Pay National Insurance as a Contractor National Insurance & The State Pension Limited Companies and Employer vs Employee NI Why Choose Nexus Accounting? Do Limited Company Contractors Pay National Insurance? If [...]

Navigating HMRC IR35 inspections can feel daunting for UK limited company contractors, but understanding the process is essential for staying compliant and protecting your income. This guide explains what IR35 is, how inspections work, and what steps you can take to respond effectively. Whether you’re managing your accounts yourself or working with an expert IR35 accountant, knowing the rules helps you plan your salary, dividends, and contracts with confidence. Read on to discover everything you need to know about HMRC IR35 inspections, from the initial contact to potential penalties, so you can approach any review fully prepared. Get in Touch   Table of Contents: What is IR35? What Causes IR35 Inspections for Businesses? The Inspection Process How to Prepare & Respond Penalties for Non-Compliance Why Choose Nexus Accounting for IR35 Inspection Advice? What is IR35? IR35 is a set of UK tax rules that determine whether a contractor [...]

Starting your contracting journey is exciting, and one of the very first decisions you’ll face is naming your limited company. It might seem simple, but choosing the right name is more important than many contractors realise. Your company name isn’t just a label; it’s part of your professional identity, a first impression for clients, and something that can impact your legal standing. In this guide, we’ll walk through everything contractors need to know about naming a limited company, from checking if a business name is trade marked to registering it properly with Companies House. Why Naming Your Limited Company Matters How to Find if a Business Name is Trade Marked Rules for Naming a Limited Company in the UK How to Register a Limited Company Name Can You Buy a Limited Company Name? Common Mistakes Contractors Make When Naming Their Company Why Naming Your Limited Company Matters For contractors, your [...]

Retirement planning is one of the most important yet overlooked aspects of working for yourself. For UK contractors and self-employed professionals, there’s no employer pension scheme automatically topping up your pot each month. The responsibility, and the opportunity, lies entirely with you. At Nexus Accounting, we help contractors and freelancers manage their finances and take [..]

Embarking on a freelance career in the UK is both exciting and daunting. For those operating through a limited company, understanding how to secure your first clients, manage your finances, and stay compliant with tax rules can make or break your success. At Nexus Accounting, we specialise in supporting freelancers and [..]

If you’re a contractor, freelancer, or small business owner operating through a limited company, you’ve probably heard a lot about dividends. But what exactly are dividends, how do they work, and who is entitled to them? This guide explains everything you need to know about dividends: from what a dividend is, to how they’re calculated, and how contractors can use dividends to manage their income tax efficiently. [..]