All new IT-Contractors often face the dilemma when starting their contracting career about whether they should be trading as a limited company or a sole trader. Lets take a quick comparison on the tax savings in each of the case with a sole IT-contractor director limited company and a sole trading company.

You have a limited company or a small business and are looking for a business bank account, there are almost no traditional high street banks that will give you a free business current account. However, we have found a challenger bank which offers free business current account for limited companies. You can open a free business account almost instantly with this bank.

Good news for IT contractors from April 2019, your personal allowance is increasing from £11,850 to £12,500 from 6 April 2019 and the higher-rate tax threshold is increasing to from £46,350 to £50,000. Also, IR35 for private sector does not start till April 2020, so private sector IT contractors do not have to worry about IR35 till 2020.