Limited Company
For good reasons, the majority of contractors choose to operate through their own limited companies. The tax advantages and flexibility of working through a limited company are well established and greater than any other compliant method. Whilst there are other trading options widely advertised, these rarely prove to be either as tax efficient and/or compliant with tax laws. You would be wise to be particularly wary of the dubious, complex tax avoidance schemes that attempt to distribute a contractor's income in the form of tax free loans or manufacture artificial paper losses to mitigate a contractor's tax liabilities. Any scheme promising take home pay exceeding 85% of gross contract income must be regarded with extreme caution.
Our objective is to ensure that your company is operated in the most tax efficient way, taking advantage of all available tax planning opportunities to save you as much tax as legally possible. As well as maximizing your take home pay, with our comprehensive support, experience and expertise we will make the process as straightforward as possible allowing you to focus on your work while we take care of most accounting matters.
We are highly specialized accountants who believe in the personal touch. You will be invited to meet with one of our qualified advisors from day one and encouraged to keep in contact throughout your contracting career.
Our all-inclusive service at £100 + VAT per month includes the:
- Financial health check and preparation of a bespoke financial plan tailored to your requirements. This plan will advise you how to take home as much as is legally possible and also estimate corporation and personal tax liabilities so that you can plan ahead and make adequate provision to pay tax liabilities.
- Free Limited Company formations and business bank account set up. As registered introducers to Cater Allen Private Bank, part of the Santander Group, our clients enjoy free banking with no minimum balance requirement.
- No minimum contract or closing down fee
- Unlimited telephone and email advice from experienced qualified accountants at no extra cost
- Annual corporation tax return form CT600
- Completion of director's self assessment personal tax return and where necessary spouse tax return to reflect contract income.
- Assistance with preparations of VAT returns
- Registered Office Address
- Company secretarial services; completion of annual return (AR01) to Companies House Produce, completion of dividend vouchers and board minutes. Advise Companies House of company changes and deal with change of address for the company and director.
- Deal with any general HMRC correspondence and queries relating to contractors personal service company.
- Mortgage &tenancy references.
- Complete National Statistical Office questionnaires.
- VAT Registration &Registration of Company Under Flat Rate Scheme
- Advice On Optimal Share Capital Structure To Minimize Tax Liabilities
- Free initial IR35 status review
- Monthly Tax Tips by Email
- Operation of Payroll &Submission of End of Year Payroll Return
- Provide you with fully compliant invoice templates
We can provide you with a free telephone consultancy and financial heath check with no obligation, or help you with any questions you may have. One good idea could save you thousands.
Just let us know by requesting a call back or contacting us by phone (020-8421 7990) or email: info@ascotsinclair.co.uk. We'll get back to you right away.
Click here to find out how a Limited Company can save you money
