What is in store for Contractors and Freelancers in 2021?

There is no doubt that freelancers and contractors are the backbone of the UK economy. This is a sentiment has been echoed by the government many times during the past year. As redundancies continue across many UK industry sectors, the choice to diversify into freelance or contracting work is a path that many are considering. …

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What is the difference between Limited Companies and LLPs

Limited Companies and LLPs share many similarities, particularly the reduced financial responsibility of the owners. However, they have key differences, namely: Capital investment opportunities. Flexibility of internal structure and members’ rights. The allocation and taxation of business profits. Choosing the most appropriate legal structure will depend entirely upon the kind of business you currently have, …

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What is a Controlled Foreign Company (CFC)?

It is extremely common these days for businesses operating globally to have companies incorporated in multiple countries.  It has also been possible to maximise tax savings by operating businesses in this way however it is essential to be mindful of Controlled Foreign Corporation (CFC) regulations that apply. CFC rules apply to certain income generated by …

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