The majority of our new clients are also new to contracting itself and looking for specialist contractor accountants to make things easier and effective for them. Their reasons for contracting are usually varied - they may have been made redundant and decided to take a new path, or they may have simply reached a stage in their career where they are ready for a change and now want to utilise their niche skills to maximise their income.
Limited Company? Is it the right choice?
Contractors who decide to operate through their own Limited Company are usually earning £150-£1,500 per day and are planning to contract for the foreseeable future
If that’s your position then a Limited Company is likely to be your best option financially but there are a number of important factors to consider before making a decision.
For example if you’re planning to move house in the coming months, this could have a huge impact on your decision, as can the length of your contract. There are also legislative considerations such as IR35 to be taken into account.
Basically forming a Limited Company is much the same as setting up a business and so it’s important that you consider every aspect before making a decision and we will help and advise all the way.
What happens next?
If working through a Limited Company seems to be the right option for you then we’ll get the process started.
First we’ll incorporate a Limited Company for you free of charge and get your certificate of incorporation - the main document that states your limited company is in existence - to you within 24 hours.
As part of our service we’ll also assign you a dedicated accountant and account manager who will guide you through the whole process.
The things we will do for you include;
Company formation - no set up fee
Register for PAYE
Register for VAT
Apply to join the Flat Rate VAT scheme
Providing you with monthly pay slips
Preparation of quarterly VAT Returns
Preparation of quarterly PAYE Payments
Preparation of the annual accounts
Submit the annual accounts
Submit the company’s Annual Return
Calculate annual corporation tax, complete the CT600 and submit with the required documents to HMRC
Calculate your personal tax when this is due and submit to HMRC
Preparation of the Director’s annual self-assessment tax returns
Deal with all HMRC correspondence
Give you unlimited access to your own dedicated accountant (Clear Accountancy Solutions charge via a fixed fee service, so you receive unlimited advice without worrying about hourly costs).
Access to our bookkeeping online portal
At Clear Accountancy Solutions we will take care of every single accountancy aspect of your business for a simple fixed monthly fee. Your account manager will answer any questions you may have and will work closely with you to help you understand the process. We think it is important that you understand the way things work so that you are confident about what we do.
Whilst similar legislation and tax rules apply to everyone, we take the time to understand what your unique aspirations and desires are. The advice we give is tailored just to you, to ensure that you are operating in the most tax efficient way for your circumstances.
On top of this there is the peace of mind that we provide by letting us take care of all of your accounting, including all correspondence with HMRC.
By becoming authorised as your agent, we are able to speak with HMRC on your behalf, dealing with any queries and leaving you to get on with what you do best – earning an income.
And isn’t that exactly what you’re looking for from your accountant?